# Qpay.om

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/qpay-om

- Industry: Financial Services
- Headquarters: Muscat, Oman
- Website: www.qpay.om/
- Latest round: Seed (Oct 10, 2024)
- Investors on record: 1

## About

Based in Oman, Qpay LLC specializes in a Buy Now, Pay Later (BNPL) payment solution that enables consumers to manage their purchases with interest-free payments, fostering financial inclusivity in the region.Founded in 2022 and headquartered in Muscat, Oman, Qpay LLC provides a flexible BNPL payment solution designed to align with Islamic Sharia principles. The company has executed one deal to date, with its most recent transaction occurring on October 10, 2024. Further details on the founder's history and previous ventures are not available.Qpay specializes in providing a Buy Now, Pay Later (BNPL) payment solution that allows consumers to split their purchases into four interest-free payments or extend repayment over 12 months. This innovative service is designed to align with Islamic Sharia principles, promoting ethical financing practices that ensure fairness in all transactions. The company's primary clientele includes consumers seeking flexible payment options for better financial management, while merchants benefit by receiving full payment upfront. Qpay's services are primarily aimed at the Middle Eastern market, particularly in Oman, to meet the rising demand for accessible financing alternatives.Qpay generates revenue through transaction fees charged to merchants participating in its BNPL program. When a consumer makes a purchase using Qpay's services, the merchant receives the full transaction amount immediately, while the consumer repays Qpay in installments. This structure fosters a mutually beneficial relationship where businesses can attract more customers by offering flexible payment options. Qpay's model primarily operates on a B2B basis, partnering with various retailers to provide this payment solution. Specific revenue figures are not disclosed, but the company’s focus on Islamic-compliant financing positions it as a unique player in the burgeoning BNPL market.In October 2024, Qpay.om raised an undisclosed amount in Seed funding led by new investor Cyfr Capital. The company plans to utilize this funding to enhance its BNPL platform, aiming to drive financial inclusion in Oman. As part of its growth strategy, Qpay is exploring the launch of additional features and services tailored to meet consumer needs in the coming months.

## Funding rounds

- Seed, Oct 10, 2024 — Cyfr Capital

## Investors

- Cyfr Capital (https://capitalatlas.ai/funds/cyfr-capital) — Seed