# MenaPay Solutions DWC-LLC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/menapay-solutions-dwc-llc

- Industry: Financial Services
- Headquarters: Dubai, United Arab Emirates
- Website: www.menapay.io
- Latest round: Seed (Jun 2, 2018)
- Investors on record: 1

## About

MenaPay Solutions DWC-LLC provides innovative financial services focused on digital transactions and blockchain technology, catering primarily to the MENA region with its advanced transactional capabilities.Founded in 2017 and headquartered in Dubai, United Arab Emirates, MenaPay Solutions DWC-LLC specializes in digital financial services. The company was established by Bora Sahinoglu, Burak Günsev, Kader Kutun, and Serhat Yikici. In June 2018, MenaPay raised seed funding led by Bogazici Ventures. Its operation has not reported any pivots or significant changes in business strategy since its inception.MenaPay offers a comprehensive suite of financial services centered around digital transactions and blockchain technology. The core product, MenaCash, enables users to purchase and transfer digital currency using various payment methods such as credit cards, wire transfers, and e-pins. This service facilitates peer-to-peer transactions within just seven seconds, catering primarily to users in the MENA region. In addition to MenaCash, the company provides access to tokenized assets, including fractional stocks from major exchanges like Nasdaq and Hong Kong Stock Exchange, allowing users to engage in stock trading on the blockchain. MenaPay also supports a range of cryptocurrencies, offering custody services for 15 different digital currencies, and provides stable cryptocurrencies pegged to various fiat currencies like USD, AED, and EUR. Furthermore, the platform features a digital goods marketplace for gaming and entertainment content, enhancing its appeal to both consumers and merchants across diverse markets.MenaPay generates revenue through transaction fees associated with its diverse offerings, including the buying and selling of MenaCash and MPAY Tokens, as well as fees from its digital goods marketplace. The company operates a transaction structure that encompasses both B2C and B2B models, where merchants benefit from easy collection of payments in the MENA region while consumers utilize the platform for quick and efficient digital transactions. The flagship MPAY Token, an ERC-20 utility token, serves as a key component of the ecosystem, allowing users to engage in various activities such as staking and participating in the Green Mining program, thus contributing to the company's revenue model. The integration of services with platforms like Twitch enhances revenue opportunities as influencers and content creators can monetize their content through the MenaPay SuperApp, further broadening the company's client base and transaction volume.Looking forward, MenaPay intends to expand its offerings with the introduction of new products aimed at enhancing user experience and facilitating more diverse digital transactions. The company has plans to enter additional markets within the MENA region by the end of 2023, leveraging its recent seed funding from June 2018 to support these initiatives. This funding will primarily be allocated towards developing new technological solutions and marketing efforts to achieve its expansion goals.

## Funding rounds

- Seed, Jun 2, 2018 — Bogazici Ventures

## Investors

- Bogazici Ventures (https://capitalatlas.ai/funds/bogazici-ventures) — Seed