Tuesday March 5th, 2024
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Qatari Fintech KARTY Secures Over $2 Million in Latest Seed Round

The funds will be used to propel the launch of KARTY's e-Wallet and financial resource management application.

Startup Scene

Qatari Fintech KARTY Secures Over $2 Million in Latest Seed Round

Qatari fintech startup KARTY has secured over $2 million from various local investors in a recent seed funding round. The funds will be used to propel the launch of KARTY's e-Wallet and financial resource management application, pending final approval and licensing from the Qatar Central Bank.

“To date, KARTY has garnered significant direct funding from local and international investors, supplemented by support from esteemed institutions like Qatar Foundation, Qatar Development Bank, Qatar FinTech Hub, Masraf Al Rayan, and global entities such as Visa,” Mohammed Suleiman, co-founder and CEO of KARTY, tells StartupScene. “This robust backing positions us ideally for a dynamic market entry and the launch of an integrated platform that promises to revolutionize financial transactions with enhanced ease and security.”

With in-principle approval for development and demo in collaboration with Masraf Al Rayan and adherence to Qatar Central Bank regulations, KARTY is gearing up for the full-scale launch of its e-Wallet solution. The application, set to be the first of its kind in Qatar, boasts comprehensive payment functionalities supported by Visa. Clients can expect a range of premium services, including instant peer-to-peer money transfers, daily spending oversight, and interactive charts for tracking spending patterns.

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