Wafeq
Accounting software for modern businesses
Wafeq was founded in 2019, is headquartered in Riyadh, Saudi Arabia, lists 51–200 employees, and has $10.5M in recorded funding across 2 rounds.
- Headquarters
- Riyadh
- Employees
- 51–200
- Founded
- 2019
- Business Model
- B2B
- Website
- wafeq.com
- Total Funding
- $10.5M
- Last Round
- $7.5M Series ADec 2024
- Rounds
- 2
Totals include recorded grants and other qualifying funding, not just equity. What counts toward funding.
Indexed holds 2 funding rounds and 4 investors for this company. The full record is or through the API.
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 lists 51–200 employees. 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 Wamda Capital.
Tech & App Stack
2 technologies & apps tracked
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Funding History
Dec 2024
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Funding: Seed through Series A. Amounts, valuations, and investors where available.
Investors
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