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Nearpay
Building fintech solutions that integrate the latest innovations in the financial industry, providing the solutions to banks, payment providers and startups
About Nearpay
NearPay is a dynamic startup revolutionizing the payments industry, particularly in the MENA (Middle East and North Africa) region. Founded in 2020 by Mohammad and Hamzah after an unexpected incident at a co-working space, NearPay has grown into a team of around 30 employees from over 7 nationalities. The company focuses on providing advanced Point of Sale (POS) payment solutions and payment infrastructure as a service.
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NearPay primarily serves merchants and tech startups, offering them innovative payment solutions that simplify and enhance their transaction processes. The company operates in the financial technology (fintech) market, which is rapidly growing and evolving. NearPay's business model revolves around developing and offering SoftPOS (Software Point of Sale) solutions. These solutions allow merchants to use their existing devices, like smartphones and tablets, to accept payments, eliminating the need for traditional, bulky payment terminals.
The company generates revenue through a combination of subscription fees, transaction fees, and service charges. Merchants and businesses subscribe to NearPay's services to access their cutting-edge payment infrastructure, which includes features like user role permissions, enhanced security standards (such as PCI MPOC), and continuous updates to improve the payment experience.
NearPay's latest app update introduces new features and enhancements aimed at improving user experience. The company is committed to staying ahead of industry trends and continuously innovating to meet the needs of its clients. By focusing on effective payment infrastructure, NearPay helps tech startups and retail stores streamline their payment processes, making transactions more efficient and secure.
Latest news
Press, funding announcements and product moves mentioning Nearpay.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES A✓Equity / VC | Dec 2023 | $14M | $56M | Sanabil · Arzan VC · Vision Ventures · Saudi Telecom Company | ↗ |
| SEED✓Equity / VC | Oct 2022 | $3.6M | $14M | Arzan VC · Hala Ventures · Palm Ventures · Vision Ventures | ↗ |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Nearpay is 49K monthly website visits, down 44.9% over the last three months. Nearpay's team declined 3.1% over the past year.
Similar companies
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed7 investors entered at this stage
Musaab Al Hakami
Oqal
Saudi Venture Capital
Vision Ventures
Arzan VC
Hala Ventures
Palm Ventures
Series A2 investors entered at this stage
Sanabil
Saudi Telecom Company
Other known investors4 additional known investors
National Technology Development Program
Salman Butt
Turki (Ayed) AlJeaid
Yaser Saeed Alghamdi
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Nearpay on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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