Incorporated in the Kingdom of Saudi Arabia with head operations in the Kingdom of Bahrain, payment processor PayTabs has raised $20 Million investment to support its products and global expansion. The expansion plan extends to 20 + markets in the next two years. The investment will support PayTabs’ expansion in the MENA region, Southeast Asia, India, and several countries within Africa and Europe. Additionally, PayTabs will invest in new product developments such as digital payments to support their current and future customers. PayTabs will also engage in key strategic acquisitions to further expand their portfolio of products and services.
Furthermore, PayTabs’ investment will be a significant contributor to local economic growth while also helping to potentially create 4000 plus direct and indirect opportunities globally within the next two years.
Founder and Chief Executive Officer Abdulaziz F. Al Jouf stated: “Our mission is to transform the face of financial services in infinite possibilities. PayTabs wants to provide secure and flexible financial solutions to small and medium enterprises, and large corporations to help them flourish and grow their revenue in multiples. We have started operations in 2014 in the Middle East, and we aim to expand into other markets to accomplish our mission globally by offering a solution that is different from what exists in the market right now.”