Foloosi
“Can a UAE-domiciled payment gateway become the full financial OS — acquiring, cards, and lending — for the country's 5,000+ SMB merchant base?”
Founded2018
HQDubai International Financial Centre, Dubai, UAE
Total raised$2.5M
Latest roundAngel III (2020)
IndustryFintech / Payments
The story
Founded 2018 as a UAE-focused payment gateway competing with Telr, Network International and PayTabs. Has since expanded beyond card acquiring into adjacent SMB financial products — Tap-on-Phone soft POS, prepaid corporate expense cards, and merchant lending up to AED 500,000 — positioning itself as a multi-product fintech for UAE small businesses rather than a pure PSP.
Last 12 months
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Product timeline
2018
Foloosi founded in Dubai as a payment gateway service provider for UAE merchants.· launch
2020
Raised $2M Angel III round.· funding
2024
Launched Foloosi Corporate Card (prepaid business expense card).· card
2024
Launched Foloosi Business Funding / Lending (loans up to AED 500,000 for SMBs).· lending
The stack
2 layers disclosed in Foloosi’s embedded-finance stack
Payments / PSP
Foloosi Payment Gateway (self-operated)
Lending
in the full report
Accounting gap: significant
2 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.