Encore Pay, UAE-based FinTech and Payment solutions provider, raised $1.5m in a Seed funding round led by GreenHouse Capital (GHC).
The startup offers PAYdirect, a modular platform to neo banks, fintechs, conventional banks, telecoms, and other payment services companies. Encore Pay is already serving customers in 4 continents and has enabled them to set up and grow their businesses with minimum time to market using its platform.
The startup solves the pressing needs of its customers who need a ready platform and a full-stack SaaS offering to offer and run their financial services, with quick go-to-market.
“We are super excited to win the backing via an attractive balance of growth capital and partnership from a premier fintech VC who will bring expertise and new insights to support our growth. At Encore Pay, we want to empower our customers with a scalable and modular platform,” Imran Saeed, CEO, and Founder of Encore Pay, stated.
With this round, Encore Pay plans to rapidly expand in its target markets in the MEA region, and also plans to enrich its platform, which supports neo banking, wallets, BNPL, digital onboarding, merchant payments, and kiosk management.
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