KARTY, an emerging Qatari fintech startup, has announced the successful completion of a substantial seed funding round, amassing over $2 million dollars, which is equivalent to more than 7.3 million Qatari Riyals.
This latest infusion of capital, raised from a variety of local investors, signifies a pivotal moment in KARTY’s trajectory towards making a significant impact in the Qatari market. This step precedes its much-anticipated launch, expected as soon as the final approval and licensing from the Qatar Central Bank are attained.
Having received in-principle approval for development and demo in strategic partnership with Masraf Al Rayan and in compliance with the Qatar Central Bank regulations, KARTY claims to be for the full-scale launch of its e-Wallet and financial resource management application.
Mohammed Suleiman, co-founder and CEO of KARTY, expressed enthusiasm about this pivotal achievement:
“We are immensely proud of the trust our investors have placed in KARTY. Their belief in our vision to provide innovative solutions for managing financial assets through our e-Wallet is exhilarating.”
“To date, KARTY has garnered significant direct funding from local and international investors, supplemented by support from esteemed institutions like Qatar Foundation, Qatar Development Bank, Qatar FinTech Hub, Masraf Al Rayan, and global entities such as Visa. This robust backing positions us ideally for a dynamic market entry and the launch of an integrated platform that promises to revolutionize financial transactions with enhanced ease and security.”
Empowered by knowledge, KARTY is poised to launch a truly revolutionary e-Wallet solution, complete with comprehensive payment functionalities supported by Visa. KARTY clients are set to benefit from an array of premium services that ensure efficient and swift financial management.
This includes instant peer-to-peer money transfers, oversight of daily spending, and the ability to track spending patterns through interactive charts. These features are designed to enhance users’ financial understanding and management capabilities significantly. All these services are integrated into a single, secure financial e-Wallet, designed to maximize efficiency and minimize effort.
KARTY’s application stands as Qatar’s pioneering digital wallet application, with a strong emphasis on savings and financial awareness. Deliberately developed to be more than just an app, it is a gateway to financial empowerment. It offers an extensive range of financial services via a secure, unified platform. With its launch, KARTY aims to elevate financial literacy in Qatar and beyond, by assisting users in making informed and intelligent financial decisions.
Featured Image Credit: KARTY