- Dubai-based fintech company Postpay, Buy Now, Pay Later (BNPL), has secured a $10 million investment, led by AP Ventures and Australia’s leading BNPL firm Afterpay.
- Founded in 2019 by Tarek Sheikh, the fintech company offers its customers a no-cost payment model, having established partnerships with a number of global brands such as H&M, Footlocker, Dermalogica and regional merchants such as The Entertainer, Kcal and Squat Wolf.
- The new investment is set to accelerate Postpay’s growth and further its expansion plans in the Middle East and North Africa region.
- The Buy Now Pay Later field in the Middle East has attracted global attention, with tabby recently raising $50 million in funding from Partners for Growth, Australian Zip acquiring Dubai-based Spotii, and Tamara recently raising $110 million from checkout.com.
pleased company Post Buy Buy Now Pay Later announces that it has received a strategic investment from IB Ventures and AfterPay, global leaders in the buy now and pay later space. This investment represents a significant boost to the FinTech journey in the Middle East and enables Post Buy to scale up by providing best-in-class services to leading retail groups and brands across the GCC and MENA region.
Working Post Buy with hundreds of companies with leading global brands, including H&M, Foot Locker and Dermalogica, and regional dealers such as Entertainer, Kcal and Squatwolf.
In this regard, he commented Tariq Sheikh, Founder and CEO of PostPay: “We are very grateful and excited to have IB Venture and AfterPay as a part of our investor base. AfterPay is a pioneer in interest-free financing solutions, and we are proud of it. With this cooperation and the opportunity to work together, this strategic investment not only provides the necessary funding for Post Buy to accelerate the pace of business growth, but also contributes to providing an opportunity for cooperation and adding more accumulated knowledge and experience to enhance our expansion process in the MENA region.”
and added Anthony Eisen, Co-CEO and Co-Founder of After Buy, We are very excited to support Post Buy to expand their business in the Middle East. We have witnessed first-hand the amazing spread of this idea worldwide and we have no doubt that Post Buy will provide the best solutions for the Middle East.”
He said Hein Vogel, CEO, IB Ventures: “We believe that Post Buy has a strong product and team, and a solid partner base that ensures it is a market leader in the region. We are proud to be part of this journey in the Middle East, which is witnessing Stunning growth. Our buy now pay later investment is perfectly in line with our strategy, and complements our other investments in Asia.”
In addition To the investment from AfterPay and IB Ventures (expected to be completed in the coming days), IB Ventures will nominate a director to join PostPay’s board of directors.