How much funding has Wafeq raised?

Wafeq has raised $10.5M in total funding, most recently a Series A round.

Who are Wafeq's investors?

Wafeq's investors include 9900 Capital, Raed Ventures, Wamda Capital.

Where is Wafeq headquartered?

Wafeq is headquartered in Riyadh, Saudi Arabia.

Wafeq

Accounting software for modern businesses

Riyadh, Saudi Arabia · Founded 2019 · $10.5M raised

Fintech

Headquarters: Riyadh
Founded: 2019
Business Model: B2B
Website: wafeq.com

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 Wamda Capital.