Iraqi fintech, Wayl secures $150,000 in pre-seed funding

Funding News

Iraqi fintech, Wayl has successfully secured $150,000 in pre-seed funding from EQIQ Ventures. The funding will support the efforts of Wayl to empower social media merchants and freelancers in Iraq and the rest of the region.

Wayl founded in 2021 by Ali Ismail, serves as a payment aggregator and facilitator for small merchants and freelance contractual workers, offering a seamless platform akin to “Stripe for Iraq.” Through its user-friendly interface, merchants can manage orders, inventories, and payment processing without the need for complex registration processes or payment gateway agreements.

During the Dubai FinTech Summit, Wayl partnered with Visa to revolutionise digital payments in Iraq, enabling Wayl to become the first payment facilitator in Iraq, addressing the pressing need for digital payment solutions in the burgeoning e-commerce landscape.

 

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