Abu Dhabi – Mubasher: Pyypl, the Middle East and Africa (MEA) focused financial services platform, announced closing its target series B raise of $20 million from a diverse group of international investors and ten existing investors.
Pyypl considers opening a second tranche for further investment due to interest from investors, according to a recent press release.
Since its establishment in 2017, Pyypl has raised nearly $40 million. The series B raise will enable the company to further expand its reach across the MEA region. Product development will also be a key focus.
Led by an experienced management team, Pyypl is one of the fastest-growing financial technology (FinTech) firms in the MEA. Since its closing of series A just a year ago, the company has already seen great traction, growing over four times in terms of user numbers, transaction volumes, and revenues.
Based in Hub71, Abu Dhabi’s global tech ecosystem, Pyypl is gaining access to its network of partners, and benefiting from its business-friendly environment and strong talent base.
Antti Arponen, co-founder and CEO of Pyypl, commented: “We welcome our new investors and appreciate the further investment from our existing shareholders in support of our financial inclusion journey. We have grown significantly since our Series A round and are excited to enter the next phase of growth and capability. This is just the beginning.”
