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 live in the UAE and Qatar, with its Qatar launch marking its first cross-border expansion.

The funding will be used to expand XSquare’s payment rail and banking partnerships, grow its engineering and commercial teams, and launch operations in Saudi Arabia.

Earlier this year, XSquare raised a funding round from AngelSpark for an undisclosed value.

XSquare raises pre-Seed round to expand into Saudi Arabia

Other newsrooms on this story

Related reading

MENA startups raise fresh capital as governments advance ecosystem reforms

Startup Wrap: MENA ventures draw $190m in multi-sector funding wave

ShopUp's parent platform raises $100m for Saudi financing push

ShopUp's parent platform raises $100 million for Saudi financing push

UAE's Epic Markets raises $10 million pre-Seed round

MENA startups land fresh capital, deals, and momentum