Jordan-based FinTech and digital invoicing service provider InvoiceQ raises $190K in its first funding round after taking part in the first wave of the Ahli FINTECH Seed Accelerator program.
AHLI FINTECH is an independent financial innovation venture and solution building, fintech investor, incubator and accelerator, and financial technologies software, hardware, and professional service provider. The vision of AHLI FINTECH is to promote the fintech ecosystem and establish Jordan as a regional hub for fintech innovation.
“To see our idea come to life, we had to find the right strategic investor. We needed an investor who would be a true partner, believe in us and our idea, open doors for us to access customers, and provide us with business and technical mentorship we need as first-time founders – not an easy task. Ahli Fintech helped us accelerate our customer development and product-market fit validation to enable us to release a loveable product to the market in a very short period of time.”
~ Muhannad Tobal, Co-Founder and CEO of invoiceQ
InvoiceQ was co-founded by Fadi Aljabali, Amer Ayyad, and Muhannad Tobal to simplify, centralize, and enhance the entire invoice lifecycle. The team specializes in invoicing industry and has the vision to make invoiceQ the go-to digital invoicing platform for the region.
InvoiceQ offers a fully electronic invoicing platform for businesses of any size collaboratively, and simple payment options to secure your collections. It increases business effectiveness and offers enough resiliency against unforeseen circumstances.
“We believe in the tremendous benefits invoiceQ delivers to its users and the stakeholders in the ecosystem around it. Specifically, for the banking sector as a stakeholder, it enhances the abilities of Jordan Ahli Bank to extend credit facilities to finance buyers and sellers on the platform. That, in addition to the amazing technical expertise of the founding team, made the decision to invest in invoiceQ, and accelerate its growth, one that is aligned with our investment thesis.”
~ Ghassan Muasher, CEO of Ahli Fintech
Early 2021, InvoiceQ launched their minimum viable product (MVP) with a variety of businesses in Jordan, ranging from large corporates to startups and small businesses, including both, sellers and buyers. By the end of 2021, the company was officially listed by the Zakat Customs and Tax Authority (ZATCA) in Saudi Arabia as a qualified e-invoicing service provider and have scaled across KSA ever since. Today, InvoiceQ enables over 40 businesses ranging from different sizes and domains, issues more than 10k invoices with a total value of USD $170 million.
“We’re very blessed to have achieved the month-over-month growth we have since launching invoiceQ in the Jordanian and Saudi markets, and are bullish on the future growth prospects of our solution in the region.”
~ Muhannad Tobal, Co-Founder and CEO of invoiceQ
