Paytabs an online payment processing company, is looking for a thrid round of funding. The Bahrain-based startup is in talks with investors to raise financing. According to the CEO and founder Abdulaziz Aljouf, this funding will help to expand its footprint beyond its Middle Eastern home base.
“We are raising our third round [of funding],” Al Jouf told Accelerate SME in an interview at the company’s Dubai office last month.
Last August, the company raised $20 million in funding from a group of undisclosed sources, the largest investment for a fintech start-up based in the Middle East and North Africa (MENA). Wa’ed Ventures, Saudi Aramco’s venture capital arm, was the sole early investor in the company and also participated in the series B round.