{"id":98701,"date":"2024-12-11T00:00:00","date_gmt":"2024-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/"},"modified":"2024-12-11T00:00:00","modified_gmt":"2024-12-11T00:00:00","slug":"wafeq-secures-usd-7-5-mn-in-series-a-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/","title":{"rendered":"Wafeq secures USD 7.5 mn in series A funding"},"content":{"rendered":"

Wafeq raises USD<\/strong> 7.5<\/strong> mn in Series A funding: <\/strong>Accounting platform Wafeq<\/a> secured USD 7.5 mn in its Series A round, led by Chris Corbishley, Managing Partner at 9900 Capital, according to a press release<\/a>. Other participants included Gary Turner, former head of Xero EMEA, alongside existing investors Raed Ventures and Wamda Capital. <\/p>\n

Where the funds are going: <\/strong>The funds will be directed towards bolstering operations in Saudi Arabia, which accounts for 90% of the company's business, and expanding in the UAE. Wafeq plans to hire additional staff and enhance product development, focusing on compliance features to meet evolving tax regulations in both markets.<\/p>\n

About Wafeq:<\/strong> Founded in 2019 by Nadim Alameddine (LinkedIn)<\/a>, Wafeq serves small and medium enterprises (SMEs) in the Middle East. Its platform supports e-invoicing, taxation, and payroll management, processing over 2 mn invoices worth USD 400 mn monthly. The company also offers invoicing compliance and accounts payable automation solutions for larger companies.<\/p>\n

\n

OTHER STARTUP NEWS- <\/p>\n

UAE-based car part aggregator <\/strong>BuyAnyAutoPart<\/a><\/strong> raised USD 750k in a pre-seed<\/strong> round<\/strong>, Wamda<\/a> reports. The main investors include Mazda\u2019s exclusive UAE distributor Galadari Brothers and Allana Group's family office 6G Capital, alongside other strategic backers. The funding will allow BuyAnyAutoPart to finalize contracts with major UAE multi-brand workshops before expanding its services to thousands of smaller garages across the country. CEO Zarir Saifuddin says that the company aims to \u201cbecome the largest used car part supplier in the world,\u201d capitalizing on the country\u2019s role as a trade hub for parts.<\/p>\n

About BuyAnyAutoPart:<\/strong> Founded in 2020, the company is an automotive tech startup for trading used car parts. It completed pilot projects with several UAE automotive enterprises such as AW Rostamani, Al Ghurair Cars, Emirates Transport, Mohamed Hareb Al Otaiba Group, and Galadari Automobiles.<\/p>\n

Men's wellness startup Better raised USD 550k in a pre-seed funding round<\/strong>, led by Salica Spring Studios\u2019 fund. Salica Investments, Al Waha Fund of Funds, and Plus VC, also participated in the round, according to a press release<\/a>.The funds will be used to expand Better\u2019s offerings, including customized prescription medications and supplements for men, and to extend its services to other areas like weight loss and mental wellness.<\/p>\n

About Better:<\/strong> Founded by Walid Dib and Hassanain Anver, Better aims to address critical issues in men's physical health through proprietary supplements and compounded prescriptions. Better operates on a subscription model and develops its products in the UAE. <\/p>\n","protected":false},"excerpt":{"rendered":"

The round was led by Chris Corbishley, Managing Partner at 9900 Capital<\/p>\n","protected":false},"author":1,"featured_media":98702,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[7,1342,78,147],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-uae","tag-investment","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"65476555-dd1a-47ae-9b87-abe62aab907d","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1012.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Wafeq secures USD 7.5 mn in series A funding","related_issue":[98683],"teaser":"The round was led by Chris Corbishley, Managing Partner at 9900 Capital","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.76634f17-a1e6-4da8-b121-1b30ed228294.mp3"},"yoast_head":"\nWafeq secures USD 7.5 mn in series A funding - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wafeq secures USD 7.5 mn in series A funding\" \/>\n<meta property=\"og:description\" content=\"The round was led by Chris Corbishley, Managing Partner at 9900 Capital\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Wafeq secures USD 7.5 mn in series A funding\",\"datePublished\":\"2024-12-11T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\"},\"wordCount\":406,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM UAE\",\"investment\",\"STARTUP WATCH\",\"startups\"],\"articleSection\":[\"STARTUP WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\",\"name\":\"Wafeq secures USD 7.5 mn in series A funding - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-12-11T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wafeq secures USD 7.5 mn in series A funding\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Wafeq secures USD 7.5 mn in series A funding - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/","og_locale":"en_US","og_type":"article","og_title":"Wafeq secures USD 7.5 mn in series A funding","og_description":"The round was led by Chris Corbishley, Managing Partner at 9900 Capital","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/","og_site_name":"UAE","article_published_time":"2024-12-11T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Wafeq secures USD 7.5 mn in series A funding","datePublished":"2024-12-11T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/"},"wordCount":406,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM UAE","investment","STARTUP WATCH","startups"],"articleSection":["STARTUP WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/","name":"Wafeq secures USD 7.5 mn in series A funding - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1","datePublished":"2024-12-11T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/wafeq-secures-usd-7-5-mn-in-series-a-funding\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Wafeq secures USD 7.5 mn in series A funding"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1012.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/98701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=98701"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/98701\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/98683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/98702"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=98701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=98701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=98701"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=98701"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=98701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}