XSquare raises pre-Seed round to expand into Saudi Arabia
UAE-based fintech XSquare has raised an undisclosed pre-Seed round led by Raed Ventures, with participation from AngelSpark, 500 Global and Oraseya Capital. Founded in 2023 by Tanvir Shah and Ashwin Shenoy, XSquare is building a B2B payment orchestration platform that brings multiple payment rails, collections, payments and reconciliation into a single system for businesses. XSquare is currently…
UAE-based fintech startup XSquare has successfully closed a pre-Seed funding round led by Raed Ventures, with support from AngelSpark, 500 Global, and Oraseya Capital. The company, founded in 2023 by Tanvir Shah and Ashwin Shenoy, is developing a B2B payment orchestration platform that integrates multiple payment rails, collections, and reconciliation systems for businesses.
Currently operating in the UAE and Qatar, XSquare is poised to expand its operations into Saudi Arabia as part of its latest funding round. The capital will be utilized to broaden its payment partner and banking alliances, augment its technical and sales teams, and kick off services in Saudi Arabia.
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