UAE’s Foloosi Crosses AED 1 Mn Bi-Annual Gross Transaction Value

Foloosi is a UAE-based fintech startup facilitating consumer-to-business card payments by enabling businesses to display QR code, Payment Link and API integrations for the customer to scan and pay in a tap.

LAFFAZ Media

Launched in January this year, Foloosi yesterday crossed AED 1 million bi-annual gross transaction value (GTV) as announced via the official Twitter handle of the company.

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In a conversation with LAFFAZ earlier today, Foloosi’s CEO & Co-founder Omar Bin Brek said “We are very glad to announce that our bi-annual gross transaction value (GTV) had crossed one million AED since going live in January 2019. This is not possible without our Foloosi community, business partners and followers,”

He thanked the Foloosi team and wished a prosperous Eid to the whole Foloosi community, business partners and followers. Considering the milestone as an early Eid gift “We as a team believe that this is the best and ever-green Eid gift reaching our milestone is something special to be celebrated.” He added.

The startup has a unique offering, since no other digital platform in the UAE serves to onboard businesses and consumers alike while complimenting the banking system using the QR code technology.

Foloosi’s Co-founder, Mohan K outlined “Together we have come up with a fresh concept, in line with the UAE’s 2021 vision, complimenting the banking system and an ambitious but achievable plan to build into a thriving new business.”

Foloosi enables simple and easy way to accept, process, disburses payment solution for businesses by providing payment gateway, payment link, subscriptions and POS software. Foloosi payment solutions can be integrated by both web and mobile applications.

Foloosi distinguishes itself by offering local financial intelligence educational feeds using machine learning techniques and artificial intelligence, besides great user retainment features such as social event bookings.

Editorial Staff
Editorial Staff

The Editorial Staff at LAFFAZ encompasses fandoms of startup culture, crazy researchers, data analysts and writers who decrypt strenuous information into graspable news, produce noteworthy features and compelling stories.

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