Qatari fintech startup Pay Later has closed a $10 million seed funding round to expand its buy now pay later and embedded finance solutions across the GCC, reflecting rising investment in flexible payment technologies in the region.
Qatari financial technology startup Pay Later has secured $10 million in seed funding to accelerate the development of its buy now pay later and embedded finance platform, as flexible payment solutions gain traction with both consumers and merchants in the Gulf Cooperation Council (GCC). The round was led by a consortium of regional and international investors, underscoring growing investor confidence in fintech startups that address credit access and digital payments in the Middle East and North Africa (MENA) region.
Contextualising the funding environment, the global buy now pay later (BNPL) market has experienced rapid expansion in recent years, with analysts forecasting sustained growth. According to Research and Markets, the global BNPL market size is expected to reach over $60 billion by 2030, supported by shifting consumer preferences for flexible payment options and merchant demand for solutions that can drive conversion. In the MENA region, e commerce growth and rising digital payment adoption have further amplified demand for flexible credit products, with consumers increasingly seeking seamless checkout experiences.
Pay Later’s platform enables consumers to split purchases into instalments while providing merchants with integrated payment solutions designed to increase conversion and average order value. The company’s model reflects a broader trend in the Middle East, where digital wallets, mobile payments, and embedded finance products are being adopted rapidly. Data from Statista shows that BNPL transactions are witnessing strong year on year growth globally, driven by convenience and changing consumer behaviour.
The startup’s seed round comes amid heightened fintech investment activity in the region. Regional venture reports from MAGNiTT have highlighted that financial services technology, including payments and lending platforms, continued to attract a significant share of early-stage funding in 2024, with GCC markets accounting for a meaningful portion of total deals. Investors have been particularly drawn to platforms that combine digital payments with credit and lending infrastructure, positioning startups like Pay Later at the intersection of two high growth segments.
Comparable fintech ventures in other markets have also leveraged early funding to scale BNPL and embedded finance offerings. For instance, global BNPL players like Klarna and Afterpay grew rapidly by expanding merchant partnerships and entering new verticals before securing acquisition or later-stage capital, illustrating how flexible payment products can unlock incremental revenue streams for both consumers and retailers. These international precedents provide a backdrop for understanding why investors are allocating capital toward similar models tailored to regional market dynamics.
In Qatar specifically, digital payments and fintech infrastructure have been strategic priorities supported by national initiatives to diversify the economy and enhance financial inclusion. Government backed efforts to modernise payments, promote cashless transactions, and support fintech innovation have contributed to an environment where startups focused on consumer fintech can attract capital and scale quickly.
With the $10 million seed funding, Pay Later is expected to expand its product suite, enhance risk and underwriting capabilities, grow its merchant base, and recruit additional engineering and product talent. The company has indicated plans to strengthen partnerships with e commerce platforms and point of sale providers across the GCC, aiming to embed its payment solutions deeper into both online and offline merchant ecosystems.
As flexible payment technologies continue to gain traction across demographics and geographies, early stage investment in fintech models like Pay Later’s underscores evolving consumer expectations and the expanding role of digital financial infrastructure in the MENA region’s broader economic transformation.
