PayTabs, an online payment solutions provider, was established in Saudi Arabia in 2014, with the vision of evolving into the leading digital payments solutions player in MENA. PayTabs, to date, has raised US$25.3 million, the 8th largest amount by a Fintech in Saudi Arabia, US$20 million based on publicly disclosed information.
Much of their funding was raised early, so PayTabs could forge ahead with its expansion plans across the region. By the end of its first year of operation, PayTabs was established not only in Saudi Arabia but also expanded to include offices in Bahrain, United Arab Emirates, and India, and continued its expansion across the GCC.
Shaping The Future of Fintech
In this report, we take a look at the attractiveness of each of the 19 MENA countries in terms of fintech and identify the top 5 hot spots for fintech activity in the region today.