Shorooq and PayLater Sign MOU at Web Summit Qatar to Explore Landmark Credit Transaction

Shorooq, a leading multi-strategy investment firm focused on venture capital, credit, and alternative investments, has signed a Memorandum of Understanding (MOU) with PayLater, Qatar’s first QCB-licensed, Sharia-compliant Buy Now Pay Later (BNPL) provider, to explore structuring a scalable, institutional-grade credit facility to support PayLater’s next stage of growth.

PayLater has established itself as a category pioneer in Qatar, operating under the regulatory oversight of the Qatar Central Bank (QCB) and offering fully Sharia-compliant BNPL products tailored to local market needs. Over the past few years, the company has demonstrated strong execution, disciplined underwriting, and growing merchant and consumer adoption—positioning it as a natural candidate for large-scale, structured credit solutions.

For Shorooq, the MOU underscores the firm’s continued leadership in the credit space and its ability to design bespoke financing structures for high-growth, regulated platforms. The potential transaction would align with Shorooq’s broader strategy of supporting fintech and technology-enabled businesses with non-dilutive capital that accelerates growth while preserving founder ownership.

Mahmoud Adi, Founding Partner at Shorooq, said: “This MOU reflects our conviction that the next phase of fintech growth in the region will be driven by disciplined, well-regulated platforms that can absorb institutional capital at scale. PayLater has built a strong foundation as Qatar’s first QCB-licensed, Sharia-compliant BNPL provider, and we see significant potential in working together to structure a credit solution that supports sustainable growth while setting a new benchmark for the market.”

Dr. Devid Jegerson, Chief Executive Officer of PayLater, added: “Shorooq is a strong validation of the progress PayLater has made since inception. As we scale our platform, access to sophisticated, Sharia-compliant credit structures is critical to serving our customers and merchant partners responsibly. We look forward to exploring a partnership that supports our long-term vision and reinforces Qatar’s position as a leading fintech hub.”

The discussions come at a time of increasing regional focus on Sharia-compliant digital finance and the development of institutional funding infrastructure to support regulated fintech platforms.

---

Send us your press releases to [email protected]