FlexxPay

History

2021: Raising $3 million investment, including from Target Global

In mid-February 2021, it became known that the venture fund Target Global supported - financial thatstartup FlexxPay of. UAE The received funding will FlexxPay focus on upgrading the technology platform and expanding the base of corporate customers.

The cloud platform FlexxPay provides employees of startup partner companies with access to income already received (salaries, commissions, pensions and benefits at the end of service) before their official enrollment. The startup operates in the UAE and Saudi Arabia and plans to launch a platform in Bahrain, and in the near future - to enter other markets in the Middle East.

Target Global has invested in a UAE fintech startup FlexxPay

The Series A funding round brought the startup a total of $3 million. It was also attended by regional investors such as JIMCO, Target Global, Wamda, DIFC FinTech Fund, March Holding, Arzan VC, SuknaVentures, Nuwa Capital and VentureSouq. Nuwa Capital managing partner Khaled Talhouni explained that his fund intends to support a startup that has "developed a scalable solution that can benefit both companies and employees." FlexxPay intends to use the funds to further improve its technology platform and expand the base of corporate clients in the region.

According to FlexxPay, more than 50% of workers in the region are unable to cover unforeseen expenses that arise during the month because they live from salary to salary. FlexxPay solves this problem, thereby reducing the financial stress of employees and increasing their motivation.

We solve the real problems of employers and their employees. Financial stress directly affects the net profit of the company and is one of the main factors that reduce employee productivity. To solve this problem, we must give people access to the funds that they have already earned. They deserve it.[1]

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