What is PayTabs?
Founded by Saudi entrepreneur Abdulaziz Al Jouf, PayTabs has established itself as an award-winning powerhouse in the B2B payments sector. Since processing its first live payment gateway transaction in June 2014, PayTabs has evolved to offer secure, multi-currency transaction processing. The company's core offering includes API plugins that enable seamless integration of payment features for SMEs across 49 industries, facilitating B2B e-commerce solutions. PayTabs also provides electronic invoicing services, allowing businesses to adopt paperless processes and accept payments via QR codes or social media links. Originally supported by Saudi Aramco's "Waed" and subsequent private Saudi investment, PayTabs has developed a comprehensive suite of solutions tailored for sectors such as hospitality, government, education, airlines, travel, and transportation, effectively connecting the multi-billion-dollar enterprise market chain in the MENA region. A notable innovation is PT Touch, launched in April 2021, which pioneered the first soft POS solution in the MENA market, transforming smartphones into merchant point-of-sale terminals.
How much funding has PayTabs raised?
PayTabs has raised a total of $20M across 1 funding round:
Private Equity
$20M
Private Equity (2017): $20M, investors not publicly disclosed
What's next for PayTabs?
With its latest major strategic investment, PayTabs is poised to further solidify its market leadership and expand its innovative payment solutions. The company's focus on enterprise-level solutions and its proven ability to adapt to evolving market needs, such as the introduction of soft POS technology, indicate a strong potential for continued growth and technological advancement. This strategic backing will likely fuel further development of its platform, enhance its reach within the MENA region and potentially beyond, and support its mission to streamline digital commerce for businesses of all sizes.
See full PayTabs company page
