Waffy App

About Waffy App

Waffy (Arabic: وفّي) is a Saudi financial escrow platform that acts as a neutral party in online transactions. A buyer deposits the agreed amount through a secure payment method, the funds are held in approved escrow accounts, and the money is released once the terms of the deal are met. The company describes itself on its website as the first platform of its kind in Saudi Arabia and presents its vision as giving businesses and individuals in the Kingdom escrow solutions that raise trust in digital dealings.

The consumer side of the platform covers peer-to-peer and marketplace deals, with pages for freelance work, car licence plates, electronics, valuable collectibles, gaming deals, property rentals, tickets and bookings, and digital marketplaces. Specific use cases listed include buying and selling phones, gaming accounts, licence-plate transactions and luxury watches.

For companies, Waffy offers a business portal and an API for developers. Its business pages describe escrow for legal settlements, freelancer management, brokerage, corporate deals, and financing and investment. For funding rounds and acquisitions, the company says escrowed funds can show an investor's solvency, be released in stages tied to milestones, handle contributions from several investors in one transaction, and be paid out only after signing. Further use cases named include escrow accounts for law firms, influencer-marketing management, car brokerage and consulting or service contracts.

The website also hosts a dispute-resolution page, an escrow glossary, a blog, a developer guide, a help centre and interactive tools, including an escrow fee calculator and an online-deal safety index.

The company's homepage states that more than SAR 50 million has been secured through the platform, with over 100,000 active transactions completed and more than 200,000 current users. These are company-reported figures. The site also warns users that official communication comes only through its approved channels. TechScoop's directory lists the company at Pre-Series A in Riyadh, in retail and financial services. No funding rounds, founders or founding year were found in the public material reviewed.