Wosul raises $20mn pre-IPO round

Riyadh - Sharikat Mubasher: The Saudi fintech company Wosul raised a pre-IPO round worth around $20 million, CEO Fahad Alghamdi unveiled.

The company plans an initial public offering (IPO) on the Saudi capital market (Nomu) in 2026, Alghamdi said in an interview with Al Arabiya Business on the sidelines of the Seamless Middle East expo that takes place in Dubai from 14 to 16 May.

He clarified that the financial transactions made through Wosul worth over SAR 3 billion, noting that the company registered a growth rate of more than 250%.

Founded in 2020, Wosul provides point of sales (POS) services for merchants as well as a full suite of financial solutions to support small and medium-sized enterprises (SMEs), leveraging cloud computing technologies.

Contribution Time: 15-May-2024 14:49 (GMT)
Last Update Time: 15-May-2024 14:49 (GMT)