PRESSR: QPay closes new round of seed funding with Cyfr Capital as lead investor
Summary
Muscat Omans new licensed Buy Now, Pay Later (BNPL) financial services provider, QPay, has successfully closed its new round of seed funding, with Cyfr Capital taking the lead as the primary investor. This investment underscores a shared vision to drive Omans digital economy forward by empowering consumers through enhanced access to credit services. With Central Bank of Oman (CBO) approval, QPay is set to offer an industry-leading BNPL platform, designed to create greater financial inclusion across the Sultanate of Oman.Commenting on the successful funding round, CEO and Co-Founder Khalid Al-Mahrooqi said: We are thrilled to welcome Cyfr Capital as our lead investor at this pivotal stage in our growth. The platform, driven by a state-of-the-art mobile application, is designed to serve a diverse demographic, ensuring that credit access is not restricted to a select few but is available to a broader range of consumers. This approach also aligns with the Companys mission to create financial parity and support economic growth by enabling more people to engage and contribute to the growing local economy.As Omans fintech landscape continues to evolve, QPays upcoming launch will place the company at the forefront of digital financial services, with the potential to revolutionize how consumers manage their finances.