EdfaPay's WePay Expands into Tunisian Market
In 2023, Edfapay raised $1.6 million in a pre-seed investment round.
Saudi-based fintech EdfaPay announced that its arm, "WePay," has secured a license for its financial payment solutions in Tunisia, in collaboration with We-Settle.[1]
This strategic move marks a pivotal step in EdfaPay's African expansion strategy, aiming to drive digital transformation in the region and solidify its position as a leader in technical payments provision.
The collaboration resulted in the development of WePay's platform, designed to meet global market demands and promote technological advancements in payment systems.
Prior to obtaining local Tunisian authentication, EdfaPay had already secured licenses from major global payment companies such as Visa, MasterCard, and American Express.
With plans to launch its services in May, EdfaPay has already inked several contracts with clients in Tunisia and Morocco.
WePay, in addition to providing checkout and SoftPOS solutions, will introduce WePay International, a cross-border payment service catering to residents abroad.
Established in 2022 by Ghormallah Alghamdi and Nedal Sabbah, EdfaPay provides SMEs with a tap-to-pay solution using smartphones instead of traditional POS devices.
In 2023, Edfapay raised $1.6 million in a pre-seed investment round.[2]