Dubai’s Foloosi Raises Six-Figure Investment to Make Cashless Payments Easier

Dubai’s Foloosi Raises Six-Figure Investment to Make Cashless Payments Easier


Dubai-based fintech startup Foloosi on Tuesday raised a six-figure investment from a regional angel investor Rashed Alfasali. The amount hasn’t been disclosed and the funding will be utilised to accelerate product development efforts.

Foloosi’s consumer mobile app (mobile wallet) available for both Android and iOS devices enables the users to seamlessly pay utility bills, book flights, and make payments by scanning the Foloosi powered QR codes available to merchants.

Foloosi also gives users the options to make international mobile top-ups for anyone across the world through its network of 500 mobile operators.

The startup is also working on a Point of Sale (POS) system for SMEs in UAE that will be made available next month. The cloud-based POS software will help Foloosi’s clients manage their business and employees and access real-time reports from wherever they are.

Foloosi in a recent press note published on Laffaz, has revealed details about its POS solution.

Source: MENAbytes


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