Nearpay builds payments infrastructure as a service, offering Tap on Phone/SoftPOS technology that enables touchless card-present payments. Its platform allows acquiring banks, payment service providers and fintech startups to launch card-present payments quickly, securely and integrate their own systems. The company simplifies touchless payments for businesses by providing a secure and seamless transaction-acceptance solution. Nearpay was founded in 2020 by Mohamed Aleban and Hamzah Alghamdi and is headquartered in Riyadh, Saudi Arabia. In December 2023 it raised $14M in a Series A round led by Sanabil Investments with participation from stc’s Corporate Investment Fund, Vision Ventures, Hala Ventures and Arzan Ventures. The company intends to use the funds to support global expansion and advance its technological capabilities.

Total raised

$14M

Funding rounds

1

Latest round

Series A

Latest activity

Dec 2023