# PayTabs Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paytabs-group

- Industry: Financial Services
- Headquarters: Dubai, United Arab Emirates
- Website: www.paytabs.com
- Total disclosed funding: $20M
- Latest round: Series B (Aug 21, 2017)
- Investors on record: 1

## About

Based in the United Arab Emirates, PayTabs Group specializes in digital payment solutions, providing businesses with a versatile payment gateway that supports local and international transactions seamlessly.PayTabs Group operates as a digital payment solutions provider, founded in 2014 in Dubai, United Arab Emirates. The company was established by Abdulaziz A. Abdulaziz Aljouf, who has a history of entrepreneurial ventures. PayTabs has raised a total of USD 20.00 mn through 2 funding deals, with the most recent being a SERIES B round in August 2017, which included participation from Saudi Aramco Entrepreneurship Ventures. The company's headquarters is located in Dubai, and it has not undergone any significant pivots or changes in strategy since its inception.PayTabs offers a comprehensive suite of digital payment solutions designed to enhance the ecommerce landscape for businesses and freelancers. Their core product is an omnichannel payment gateway that allows merchants to process local and international transactions seamlessly. This platform facilitates various payment methods, including credit and debit cards, digital wallets, and QR code invoicing, enabling businesses to cater to a diverse customer base. PayTabs also provides a unique solution known as Paymes, which allows freelancers to create online storefronts and receive payments through social media links and QR codes. The solutions are marketed in several geographical regions, including the Kingdom of Saudi Arabia, the UAE, Egypt, Iraq, Jordan, Kuwait, and Oman, targeting small to medium-sized enterprises, online retailers, and independent service providers.PayTabs generates revenue primarily through transaction fees associated with its payment processing services, which are structured as a percentage of each transaction processed through its platform. The company employs a B2B model, partnering with merchants and businesses that utilize its payment gateway for ecommerce transactions. Additionally, it offers various pricing plans based on the volume of transactions and the types of services utilized, which may include subscription models for enhanced features offered through its platform. The company's flagship offerings, such as the core payment gateway and the Paymes solution, serve as critical revenue drivers by facilitating efficient payment processes, thereby supporting the financial operations of its clients across multiple industries.Following the SERIES B funding round in August 2017, PayTabs plans to utilize the USD 20.00 mn raised for product development, particularly in the realm of digital payments, and to engage in acquisitions that will enhance its product and service portfolio. The company is also strategizing to expand into new markets, particularly focusing on increasing its presence in the African region and Southeast Asia by 2025, thereby broadening its global footprint.

## Funding rounds

- Series B, Aug 21, 2017, $20M — Saudi Aramco Entrepreneurship Ventures
- Series A, Jan 1, 2014 — Saudi Aramco Entrepreneurship Ventures

## Investors

- Saudi Aramco Entrepreneurship Ventures (https://capitalatlas.ai/funds/saudi-aramco-entrepreneurship-ventures) — Series A, Series B