Qatari Startup Raises $1.5 Million in Cash Investment!

Doha - Qatar's startup landscape hits a remarkable milestone as CWallet secures a funding of $1.5 million in-cash investment.

The success story of CWallet comes with the collaborative efforts of its visionary founders, along with the support from esteemed Qatari angel investors and strategic backing from Malaysia. Notably, MBK Holdings provided a substantial cash capital injection, propelling CWallet towards unprecedented growth.

CWallet has secured a total funding of $3 million, with contributions from industry giants like VISA, supported by entities such as QSTP PDF, Ten Angels, and local Qatari angel investors. As an alumna of programs like SeedStars, VillageCapital, with backing from Qatar Fintech Hub and Qatar Development Bank, CWallet is a reflection of the collaborative support driving Qatar's startup ecosystem towards success.

Established as a payment service provider licensed by the Qatar Central Bank and headquartered in Doha with a presence in Dubai DMCC, CWallet is set for regional expansion. Future ventures include entry into the growing Saudi market, accreditation by Fintech Saudi/SAMA, and operational bases in India, Nepal, and Southeast Asia, beginning with the Republic of the Philippines.

CWallet's global recognition is noteworthy, having presented at the United Nations HQ in New York and participated in the World Economic Forum 2024 in Davos, Switzerland, representing Qatar at an international stage.

Recent accolades, including the Fintech of the Year award from Qatar University and the Most Innovative Fintech award from the Ministry of Communications and IT (MCIT), further validate CWallet's commitment to excellence.

A portion of the investment has been earmarked for product development, with the highly anticipated release of "CWallet X" scheduled for March 2024.

With a mission to become Qatar's first licensed Digital (Neo Bank), CWallet is determined to further revolutionize the fintech landscape, demonstrating Qatar's commitment to innovation and entrepreneurship on a global scale.

Follow us for more:

Innovation Cafe is a dynamic platform at the forefront of innovation, entrepreneurship, and collaboration in Qatar. We serve as a hub where startups, entrepreneurs, professionals, and innovators come together to exchange ideas, share knowledge, and drive positive change. Through our diverse range of programs, events, and initiatives, we empower individuals and organizations to navigate challenges, and make an impact.

Stay updated on the latest industry news, trends, and developments in Qatar by following our Newsroom. For inquiries, partnerships, or to learn more about our offerings, please contact us at hello@innovationcafe.qa