Doha – Sharikat Mubasher: PayLater, a licensed Buy Now, Pay Later platform in Qatar, announced it has closed a $10 million seed funding round, marking one of the largest seed-stage investments in the country’s startup ecosystem.
As per a recent press release, this round was led by LuLu Alternative Investments Portfolio, with participation from Qatar Development Bank and KBN Holding, alongside a group of angel investors.
PayLater plans to use the new capital to expand into key sectors, including travel, education, and healthcare, while enhancing its product offering through the rollout of new financial features supported by advanced credit assessment technologies.
The company is also looking to deepen partnerships by expanding integrations with major e-commerce platforms and physical retail networks across Qatar.
Mohammed Abdulaziz Al-Delaimi, Co-Founder of PayLater, said the funding validates strong market demand for flexible and responsible payment solutions, adding that the company aims to support both consumers and merchants through smarter installment-based payment infrastructure.
Launched less than a year ago, PayLater has facilitated more than QAR 300 million in installment transactions and serves over 80,000 users. The company has also secured a QAR 100 million credit facility from Qatar Islamic Bank and Al Rayan Bank to support its growth strategy.
