CAIRO: Jan 28 Wafeq, a UAE-based financial software company for small and medium enterprises, raised $3 million in a seed funding round led by Raed Ventures with participation from Wamda Capital to double down on its Saudi presence as well as expand to Egypt.
Launched in 2019, Wafeq is a fintech startup that provides easy-to-use software to empower accounting and finance operations for SMEs.
In an exclusive interview with Arab News, Nadim Alamddine, Founder and CEO at Wafeq, said that Saudi Arabia is the largest and most important market for the company.
“As such, we will double down on our growth here to continue offering our solutions to SMEs in the Kingdom. We already count some of the most successful SMEs and startups as our customers, and as we grow here, we will continue to help businesses become compliant with accounting regulations,” he stated.
Built for the finance and accounting needs of SMEs in the region, Wafeq’s software is trusted by…