Doha – Sharikat Mubasher: Shorooq, a multi-strategy investment firm specializing in venture capital, credit, and alternative investments, announced inking a Memorandum of Understanding (MOU) with PayLater, Qatar’s first Qatar Central Bank (QCB)-licensed and Sharia-compliant Buy Now Pay Later (BNPL) provider, to explore establishing a scalable institutional credit facility. The agreement was announced as both companies seek to support PayLater’s next phase of expansion in Qatar’s growing fintech sector.

As per a recent press release, the proposed credit facility is expected to provide PayLater with structured, non-dilutive financing aimed at strengthening its lending capacity and supporting merchant and consumer growth.

PayLater has emerged as a pioneer in Qatar’s BNPL market, operating under QCB regulatory oversight and offering Sharia-compliant financing solutions tailored to local market demands. The company has demonstrated consistent platform growth, disciplined underwriting practices, and increasing adoption among merchants and consumers.

Shorooq indicated that the potential transaction aligns with its strategy of supporting high-growth, regulated fintech platforms through customized credit solutions that enable scaling while preserving founder ownership.

Mahmoud Adi, Founding Partner at Shorooq, highlighted that the partnership reflects confidence in regulated fintech platforms as key drivers of regional financial innovation.

Meanwhile, Devid Jegerson, PayLater CEO, noted that access to sophisticated Sharia-compliant credit structures is essential for responsibly expanding the platform and strengthening Qatar’s position as a fintech hub.