TigerPay, the Dubai based fintech startup is reshaping payment solutions for SMEs across the region through its flagship product, softPOS, along with QR and link payments. In a noteworthy development, the company established in 2023 by Prabh Singh secured a pre-seed funding round of USD 250k last year and is now embarking on its second fundraising round, with a target of USD 1.5M.
Ashneer Grover, a prominent Indian entrepreneur and the former co-founder and MD of BharatPe, is a key investor in the company. Expressing enthusiasm about the collaboration, Prabh Singh, CEO of TigerPay, stated, “TigerPay is super excited to have Ashneer Grover onboard. We couldn’t have asked for a better angel investor. We aim to be the largest merchant-first fintech in the UAE and the Gulf region,” according to a press release shared by ANI.
Ashneer Grover echoed the excitement, emphasizing TigerPay’s dedication to supporting local businesses- “Excited about TigerPay solving for small merchants in the UAE!”
The funds raised will be utilized to expand the merchant base, develop a neobank, and establish the largest SME lending platform in the region. Within just six months, TigerPay has achieved significant success, garnering over 2000 merchant sign-ups.
TigerPay’s suite of products, including softPOS, QR, and link payments, are turning smartphones into POS machines. The current funding round is expected to strengthen TigerPay’s market position and contribute to the company’s growth in the fintech industry.