Wafeq
ActiveArabic-first cloud accounting software for SMEs
Wafeq is an Arabic-first cloud accounting platform designed for SMEs in MENA offering automated bookkeeping VAT compliance and financial reporting.
Founders
Funding Rounds
Lead: 9900 Capital
Investors: Raed Ventures, Wamda Capital
Lead: Raed Ventures
Investors: Raed Ventures, Wamda Capital
First institutional round; company launched 2019 and appears to have been self-funded until then (no pre-seed/angel round found anywhere). TechCrunch dated 2023-01-24. Also: https://www.wamda.com/2023/01/wafeq-raises-3-million-seed-round-led-raed-ventures-participation-wamda-capital https://techcrunch.com/2023/01/24/dubai-based-accounting-and-financial-compliance-startup-wafeq-raises-3m/ https://raed.vc/news/wafeq-raises-3-million-seed-round-led-by-raed-ventures-and-participation-from-wamda-capital/ https://www.forbesmiddleeast.com/innovation/startups/wafeq-raises-$3m-in-a-seed-funding-round-to-accelerate-expansion-in-mena Confidence: confirmed (round 13, Wafeq).
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