Saudi fintech CashIn secures $1.6 million Seed round
- Date: 19-Sep-2021
- Source: Wamda
- Sector:Financial Services
- Country:Saudi Arabia
Saudi fintech CashIn secures $1.6 million Seed round
Saudi Arabia-based fintech CashIn has secured $1.6 million in a Seed round led by Investor Mine with the participation from BIM Ventures and several angel investors.
Founded in 2021 by Omar Al-Rammah, Obay Al-Madhi and AbdulKarim Zureik, CashIn delivers digital payment solutions, digital invoicing, point-of-sale (POS) and fully integrated payment features on one platform.
This recent round will allow Cashing to expand its network, partner with banks and other stakeholders.
Press release:
CashIn, a company specialised in providing digital payment and points of sale solutions, announced that it has raised SAR6 million ($1.6 million) in a Seed round led by Investor Mine with the participation of BIM Ventures and a number of angel investors.
The announcement of this funding is considered a prime opportunity for the company to penetrate and lead the market with a fully-fledged digital payment solution and e-invoicing.
Zakat, Tax and Customs Authority (ZATCA) has recently published new regulations to mandate merchants to use e-invoicing starting from December 4, 2021. Therefore, CashIn has built relationships with a number of government sectors such as ZATCA to become one of the first providers of electronic solutions that comply with the requirements of e-invoicing (FATOORAH). Additionally, more partnerships have been