Foloosi
| File:Foloosi logo.png | |
| ISIN | 🆔 |
|---|---|
| Industry | Internet |
| Founded 📆 | January 2018 |
| Founder 👔 | Omar Bin Brek, Mohan K |
| Headquarters 🏙️ | Dubai |
Area served 🗺️ | UAE |
| Products 📟 | Payment Gateway, POS Software, Financial Services |
| Members | |
Number of employees | 11-20 |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Foloosi (Arabic: فلوسي) is a UAE-based fintech startup founded by Omar Bin Brek (CEO) and Mohan K (CTO) in Dubai, UAE in 2018.[1][2] The company launched its solutions in the UAE in January 2019.[3] The company was started with an aim to reform the cash payments across UAE by offering digitized transactions in alignment to UAE vision 2021.[4] In September 2019, Foloosi was recognised by Forbes' Middle East Fintech 20.[5][6]
Product overview[edit]
Foloosi facilitates consumer-to-business card payments by providing features like payment gateway, payment links, scan & pay QR codes, and subscription-based payment.[6][7] Foloosi's POS software also brings business management features to help businesses adjust items, manage employees, and view real time reports.[8]
History & investments[edit]
Foloosi raised its Pre-Seed round from an Emirati entrepreneur and angel investor Rashed Alfalasi in June 2019.[9]
On 8 August 2019, Foloosi announced that the company crossed AED 1 million bi-annual gross transaction value (GTV).[3]
Foloosi on 5 September 2019 announced that it has raised $500,000 from the existing investor Rashed Alfalasi along with the new investor Mohammed Alsuwaidi.[10] Through this funding round, the company aimed to expand in Gulf Cooperation Council (GCC) and Saudi Arabia.[11]
References[edit]
- ↑ "Foloosi raises $500,000 in seed round". Wamda. Retrieved 2020-03-02.
- ↑ Alaradi, Ghadeer (2019-09-08). "UAE-based FinTech startup Foloosi raises $500k in seed funding". StartUp Bahrain. Retrieved 2020-03-02.
- ↑ 3.0 3.1 Arora, Jayant (2019-08-08). "[Exclusive] UAE's Foloosi Crosses AED 1 Mn Bi-Annual Gross Transaction Value". LAFFAZ. Retrieved 2020-03-02.
- ↑ "UAE fintech startup Foloosi raises Pre-SEED funding, looks to build the cashless society and provide payment solutions that serve all types of businesses". MAGNiTT. Retrieved 2020-03-02.
- ↑ East, Forbes Middle. "FINTECH 20". Forbes ME. Retrieved 2020-03-03.
- ↑ 6.0 6.1 "PressReader.com - Your favorite newspapers and magazines". www.pressreader.com. Retrieved 2020-03-03.
- ↑ "FOLOOSI - Future of payments using QR code technology". Cofounder.ae - Startup and Founder Stories from UAE - Technology Startups, Investors, Incubators, Accelerators, Funding and More!. 2019-07-09. Retrieved 2020-03-02.
- ↑ "Dubai's Foloosi raises six-figure investment to make cashless payments easy". MENAbytes. 2019-07-16. Retrieved 2020-03-02.
- ↑ "UAE-based Foloosi raises pre-seed fund". Wamda. Retrieved 2020-03-02.
- ↑ "UAE fintech startup Foloosi raises $500K in a SEED funding round". MAGNiTT. Retrieved 2020-03-02.
- ↑ September 2019, 9th. "Foloosi targets GCC expansion with $500k seed funding". FinTech Futures. Retrieved 2020-03-02.
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