Dubai-based Postpay bags $10Mn investment from AP Ventures & Afterpay

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The company has partnered with Dermalogica, Footlocker, H&M, as well as regional merchants like The Entertainer, Squat Wolf, and Kcal

Postpay, a BNPL (buy now pay later) startup based in Dubai, has confirmed securing $10 million worth of strategic equity financing from AP Ventures and global BNPL leader, Afterpay. The equity investment is a turning point for the Middle Eastern fintech, positioning it to serve top retail groups and brands in a better way across the GCC and the rest of the Mena region.

Notably, Dermalogica, Footlocker, H&M, and regional merchants like The Entertainer, Squat Wolf, and Kcal are among few of many global companies that Postpay has partnered with.

Tariq Sheikh, Founder and CEO of Postpay, said that the firm is delighted to have Afterpay and AP Ventures as part of their investment group. Afterpay is a forerunner of the zero-cost-to-customer approach, and it is an absolute pleasure to collaborate with it.

He added that as Postpay expands in the Mena region, this strategic investment offers not just funds to assist them to enhance growth, but also a platform to collaborate and incorporate learnings from new owners.

Afterpay's co-CEO and co-founder, Anthony Eisen, said: They are glad to help Postpay expand the buy now pay later market in the Middle-East. Afterpay has witnessed and experienced phenomenal growth of BNPL around the world and are confident that Postpay will provide a best-in-class service across the Middle East.

According to Hein Vogel, CEO of AP Ventures, they believe Postpay has an exceptional team, product, and client base to achieve regional market leadership. They are honored to be a part of this journey in the Middle East, which is seeing massive growth. The Postpay investment is in line with the company's overall strategy and complements other BNPL investments in Asia.

Source Credit - https://www.wamda.com/2021/06/postpay-secures-10-million-investment-ap-ventures-afterpay