UPayments, a fast-growing online payments platform based in Kuwait, announced earlier this week that it raised an undisclosed amount in seed funding. The investors to have taken part in the round include well-known industry names such as Hamad Ali AlBahar and Saud Al Aujan.
Naseer AlHumaidi, co-founder and CEO at UPayments took the opportunity to acknowledge that the new fund in the startup’s kitty will help it accelerate operations and explore new opportunities.
Ali AlHabshi, UPayments CoFounder and COO, chipped in by saying the newly raised fund will enable the company to develop new and innovative payments products geared towards helping “every business [to] establish an online presence.”
Founded in August 2016, UPayments pitches itself as a one-stop platform offering a comprehensive suite of payment solutions that allow businesses of all sizes to integrate new payment modules into their stores. In addition to the convenience factor, the company also claims to have a robust mechanism for ensuring “bank-level security” for all transactions on its platform.