Wafeq
Accounting software for modern businesses
Riyadh, Saudi Arabia · Founded 2019 · $10.5M raised
- Total Funding
- $10.5M
- Last Round
- $7.5M Series ADec 2024
- Rounds
- 2
About
Wafeq is a modern, easy-to-use accounting platform built to help small and medium businesses across the Middle East manage VAT, e-invoicing, payroll, and corporate tax compliance from a single dashboard. Founded in 2019 by Nadim Alameddine, the company is fully compliant with Saudi Arabia's ZATCA and the UAE's Federal Tax Authority, and integrates directly with regional banks including Saudi Awwal Bank, Al Rajhi Bank, HSBC, and Wio to automate accounting. Wafeq has grown to serve over 10,000 customers, processing more than 2 million invoices worth roughly $400 million every month.
Summary
Wafeq is a Fintech company based in Riyadh, Saudi Arabia, founded in 2019. It has raised $10.5M in total across 2 rounds, most recently a $7.5M Series A round in Dec 2024. Investors include 9900 Capital, Raed Ventures and BNVT Capital.
Tech & App Stack
2 technologies & apps tracked
Every product and vendor across these categories, with where each signal came from.
Create a free account with 25 free credits every month, no card needed, to unlock the full tech & app stack, funding history, and valuations.
Funding History
Dec 2024
Sign up to see all 2 rounds
Seed through Series A — per-round amounts, valuations, and who invested in each round.
Investors
Similar Companies
Citi is a leading global bank for institutions with cross-border needs, a global provider in weal...
Global fintech company operating Alipay and providing digital payment, wealth management, insuran...
Regulated institutional-grade cryptocurrency exchange offering spot trading for Bitcoin, Ethereum...
Robinhood provides retail brokerage, crypto, advisory, banking, and private-markets access throug...
Stripe provides payments, billing, money-management, fraud-prevention, and identity tools that he...
Grab is Southeast Asia's leading super-app, providing ride-hailing, food and grocery delivery, di...
Your company? Embed this profile
Add the live badge to your site — it stays current as your funding data updates.
<a href="https://indexed.vc/companies/wafeq"><img src="https://indexed.vc/api/badge/company/wafeq" alt="Wafeq on Indexed.vc" width="260" height="76" /></a>