Wafeq raised $7.5 million in a Series A round led by 9900 Capital to enhance its accounting platform for SMEs in the Middle East.
Dec 10, 2024•about 1 year ago
Amount Raised
$7.5 Million
Round Type
series a
Investors
Wamda CapitalRaed VenturesGary Turner9900 Capital
Description
Wafeq has completed a $7.5 million Series A funding round with participation from notable investors including Gary Turner, Raed Ventures, and Wamda Capital. The company plans to expand its operations in Saudi Arabia and the UAE, following its recent success in facilitating over 2 million invoices monthly.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers