Fintech startup Paymee secures funding round to accelerate its product development

TUNISIA – Paymee, a fintech startup offering online payment gateway, has closed a six-figure funding round led by P1 Ventures.

The startup will be utilising the funds to accelerate its product development and grow its enterprise offering.

It specializes in digitising payment flows that offer online payment acceptance solutions through cards.

Its solution can be integrated into any website and mobile application. Enterprises and SMBs without a website can create payment links to send to their clients.

Paymee specialises in delivering innovative payment technologies to help merchants increase their revenues by accepting digital payments.

Paymee’ recently launched a new product, a QR Code that replaces POS terminals. It’s a QR Code with a fixed image and the amount that can be modified.

“This raise will support our ambition to develop the product and attract new talents. We’re already known for the efficiency and simplicity of our payment solutions and now we want to become the market reference in Tunisia,” Marwen Amamou, Paymee founder said.

“Addressing our client needs and simplifying their operations is at the core of our research and development efforts.”

P1 Ventures is a venture capital firm specialising in early-stage African FinTech.

“We’ve been impressed by the product quality that allowed Paymee to become a partner of reference for international brands such as Shopify to enable Tunisian merchants to accept payments online,” Mikael Hajjar, General Partner at P1 Ventures, added.

“Marwen is also a highly ambitious and resilient entrepreneur who continues to develop new features such as the QR Codes, which is a great alternative to cash on delivery for logistic clients such as Aramex.”

As recorded in our recently released State of Startup Funding – H1 2022 Emerging Venture Markets Report, many milestones were achieved by FinTech startups across the MEAPT region as the sector amassed over US$1 billion in H1’22 with a number of Mega Deals closed by FinTech startups being the core drivers in reaching the US$1 billion mark in funds.

The FinTech frenzy across Africa has been truly remarkable this year, where FinTech was the leading industry either in terms of funding or in total transactions in the top geographies of the region.

In the North African region, Egypt was the winner of the FinTech sector with sizable rounds recorded by PayMob, Lucky, and Thndr.

Both regional and international investors have been very keen in playing a part in disrupting the EVM’s FinTech sector to offer innovative payment solutions.

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