Dubai’s Pyypl lands $20m Series B as it eyes regional expansion
Dubai-based fintech Pyypl has landed $20 million in a Series B investment round as it looks to expand its reach across the Middle East and Africa (MEA).
The round saw participation from new international investors and 10 existing investors. The company is also considering reopening the Series B for further investment due to strong interest.
Founded in 2017, Pyypl has raised nearly $40 million to date. The Series B will enable the fintech to build out its product suite, with Pyypl 2.0 adding new features to the firm’s proprietary tech platform designed to enhance the user experience and facilitate the company’s growth in current and new markets.
The international paytech partners with investors, banks and payment networks such as Visa, Ripple and Binance. It leverages blockchain technology to plug in the 800 million smartphone users in the Middle East and Africa who are financially underserved, enabling digital payments across the region.