SimpliFi, a Cards as a Service (CaaS) platform for the Middle East and Pakistan (Menap), launched its card issuance platform on August 2nd. Comprised of a rich set of publicly available APIs and an easy to use portal, any business, be it a fintech, gig platform, enterprise or SME, can issue cards instantly and manage their programme end to end through SimpliFi.
The company closed its seed round earlier in the year led by Raed Ventures which has also backed Mena heavyweights such as Tabby and Lean. Rally Cap, a global venture collective focusing on early-stage, emerging market fintech opportunities and Sukna Ventures, an early-stage regional VC, also participated along with a number of angels including Chris Adelsbach, Idris Bello, Osama AlRaee, Abdullah Mohammed Al-Dosari and current and former executives at Facebook, Careem, Plaid and Remitly.
SimpliFi provides businesses with a one-stop solution to issue and manage their cards’ programme. The company manages all the ecosystem partners required to issue cards including banks, card schemes, processors, identity verification and card fulfilment to deliver a seamless experience across multiple markets. In addition to providing a purpose-built tech stack, SimpliFi handles day-to-day card operations and compliance functions so businesses can focus on their core strengths while leveraging the capabilities and scale of SimpliFi.
“Prepaid cards are highly versatile with a host of use cases allowing businesses to streamline operations, generate new revenue streams and drive loyalty. Until now, banks have had exclusivity in issuing cards. We are changing that by empowering every business to become a payments company and participating in the benefits from financial ownership, without the underlying complexities and hassle. The massive impact this can create on the financial services ecosystem in the region inspires us to wake up every day,” commented Sattar.
Potential customers can now sign up on SimpliFi’s website for a demo account to access SimpliFi’s easy to use the portal and comprehensive card issuance and management APIs. Whilst SimpliFi’s APIs provide the tools necessary for developers to test out and launch products with minimal coding, the portal is designed specifically for non-technology businesses so finance and operations teams can get access to the same capabilities without any technology or payments background.