Dubai-based Postpay Secures $10 Million Investment 

What to Read Next

1. Tech Mahindra Partners with Atento CRM

2. Panasonic Launches SMARTCARE World

3. RingCentral Launches RingSense AI APIs

4. Libas Partners with GoKwik

Buy now pay later (BNPL) player Postpay has raised $10 million from global buy now pay later leader Afterpay and Australia-based AP Ventures, it announced in a statement.

Tariq Sheikh, founder and CEO of Postpay, said, “We are extremely grateful and excited to have Afterpay and AP Ventures as part of our investor-base. Afterpay is the pioneer of the zero cost-to-customer model, and we are honoured and privileged to work with them. “For Postpay, this strategic investment provides not only capital to enable us to accelerate our growth but also an opportunity to collaborate and bring new learnings from our new shareholders as we expand in the MENA region.”

Anthony Eisen co-CEO and co-founder at Afterpay, said, “We are excited to support Postpay as they grow the buy now pay later market in the Middle East. We have seen first-hand the incredible uptake of BNPL globally and have no doubt that Postpay will deliver a best-in-class solution across the Middle East.”

Also Read: Reward and Be Rewarded

Hein Vogel, CEO at AP Ventures said, “We believe that Postpay has an extremely strong team, product and partner-base to ensure market leadership in the region. We are proud to be a part of this journey in the Middle East – a region with such impressive growth. Our investment in Postpay fits well with our overall strategy and complements our other BNPL Investment in Asia as well.”

Founded in 2019, Postpay enables online merchants in the United Arab Emirates and Saudi to offer buy now pay later as a payment option to their customers. The customers can use Pospay on the checkout page of partner stores and pay for their purchases in three equal monthly installments with no interest or fee (if the payments are made on time).