UAE fintech Pyypl raises $11mn to fuel its GCC & African expansion plans

UAE fintech Pyypl raises $11mn to fuel its GCC & African expansion plans

UAE-headquartered fintech, Pyypl has closed an $11 million Series A financing round to continue its growth in the GCC market and expand further in Africa.

The global blockchain technology-based company offers digital payments and financial services for smartphone users to carry out online transactions, without the need for a bank account or credit card.

Backed by a diverse group of international family offices and high-net-worth individuals (HNWI) from Europe, North America, Asia, and the Middle East, the funding round was over-subscribed. This follows significant investment in previous rounds from Global Ventures, a UAE-based international venture capital firm.

Antti Arponen

CEO & Co-Founder

Pyypl “Pyypl is on a mission to serve MEA’s huge consumer base. Hundreds of millions of people, whilst having a mobile phone and internet connection, are either completely unbanked or severely under-served in their daily financial services. The new capital will be deployed to scale our operations in the GCC and Africa, particularly Kenya and Mozambique. We welcome all our new investors to our financial inclusion journey, and we couldn’t be more excited to enter the next phase of our growth.”

The MEA region is ripe for fintech sector growth, and Pyypl is carving out a niche position. The region has two billion people