The Dubai-assisted Buy Now Pay Later (BNPL) platform Postpay had secured out a $10Million within the equity-based investment, that will propel out the progression as well as trigger out the development plans for the MENA territory.
The AP Ventures along with BNPL global major Afterpay initiated the investment security process. The Founder as well as CEO of the Postpay, Tariq Sheikh, stated out that, “We are extremely grateful and excited to have Afterpay and AP Ventures as part of our investor-base. Afterpay are the pioneers of the zero cost to-customer model, and we are honoured and privileged to work with them. For Postpay, this strategic investment provides not only capital to enable us to accelerate our growth but also an opportunity to collaborate and bring new learnings from our new shareholders as we expand in the MENA region.”
The Co-founder at Afterpay, Anthony Eisen, stated out that; “We are excited to support Postpay as they grow the buy now, pay later market in the Middle East. We have seen first-hand the incredible uptake of BNPL globally and have no doubt that Postpay will deliver a best-in-class solution across the Middle East.”
Founded in 2019, Postpay operates along hundreds of chief global brands, including H&M, Dermalogica, Footlocker, and local merchants like as that of The Entertainer, Kcal and Squat Wolf.
Hein Vogel, CEO at AP Ventures, said: “We believe that Postpay has an extremely strong team, product and partner-base to ensure market leadership in the region. We are proud to be a part of this journey in the Middle East – a region with such impressive growth.”
The BNPL market is anticipated to intensify by 400 percent to touch a base of $352 Billion during 2025 from $89Bn within the year 2020.
The popularity of BNPL merchandize, utilized as an alternate to credit cards, has intensified during the Covid-19 pandemic, combined with the boom in E-commerce, which was triggered by the diverse lockdown limitations.
The establishment offers clients the option to pay in three monthly instalments at their partner stores with undeniably no interest or fees. While they transition the budget to retailers as a quality payment gateway (often dealing with a five percent per operation) – their solution intensifies conversion rates up to 30 percent, average command worth by over 50 percent and diminishes return rates by over 25 percent – all with no added risk for retailers as they get stable up front on a weekly basis.
In add-on to the investment from Afterpay and AP Ventures – which is anticipated to finish in the coming days – APV will be proposing a director to join the board of directors of Postpay.