The UAE-based FinTech Encore Pay has raised $1.5M in Seed financing backed by GreenHouse Capital (GHC) to empower Banks, FinTechs, and businesses across the region with seamless payment solutions and a full-stack SaaS offering for Financial servicing.
“We have worked with startups and founders across Africa and now the Middle East for more than 10 years. We are quite impressed with the deep understanding and the platform offered by Encore Pay. Encore Pay is poised to grow and we are happy to be a part of it.”
~ Bunmi Akinyemiju, Partner at GreenHouse Capital
Encore Pay helps financial institutions and customers from various industries to enable digital payments across different customer touchpoints. The startup serves customers in 4 continents and has enabled them to set up and grow their businesses with minimum time to market using its platform.
Encore Pay offers PAYdirect, a modular platform to neo banks, fintechs, conventional banks, telecoms, and other payment services companies. As part of the collaboration, GreenHouse Capital shall also be using the PAYdirect platform for its neo bank and fintech businesses in MEA and North America.
“We are super excited to win the backing via an attractive balance of growth capital and partnership from a premier fintech VC who will bring expertise and new insights to support our growth. At Encore Pay, we want to empower our customers with a scalable and modular platform.”
~ Imran Saeed, CEO, and Founder of Encore Pay
The fintech startup plans to utilize the fresh funds to expand in its target markets in the MEA region along with enriching its platform, which supports neo banking, wallets, BNPL, digital onboarding, merchant payments, and kiosk management.