MyFatoorah
“Can a Gulf-native payment gateway become the dominant payment infrastructure layer for businesses across all GCC and MENA markets?”
Founded2016
HQKuwait City, Kuwait
FoundersAbdullah Al Dabous
Latest roundLater Stage VC
IndustryInfrastructure / Payments
The story
Founded in 2016 in Kuwait as a payment gateway focused on helping Kuwaiti businesses invoice clients and accept payments online. Rapidly expanded across 8 GCC and MENA markets, becoming the only PSP licensed across all GCC countries. Secured Saudi Central Bank (SAMA) regulatory approval and grew to offer a full suite of embedded payment tools including APIs, e-commerce plug-ins, POS, multi-vendor marketplace settlement, and logistics integration. Positioned as a regional payments infrastructure layer for SMBs and enterprises across the Middle East.
Product timeline
2016
Founded by Abdullah Al Dabous in Kuwait as an online payment gateway targeting Kuwaiti businesses.· pivot
2020
Established MyFatoorah Egypt entity, extending regional presence to MENA markets.· banking
2022
Expanded to serve businesses across 8 countries including Saudi Arabia, UAE, Bahrain, Qatar, Egypt, Oman, and Jordan.· pivot
2023
Obtained Saudi Central Bank (SAMA) license (No. 21/LLC/1444), becoming regulated in KSA.· banking
2024
Launched 'Payments Without Borders' concept and strategic partnerships with Mastercard, GoDaddy, and DHL Express.· pivot
Regulated entities
1
regulatory licence held by MyFatoorah
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in MyFatoorah’s embedded-finance stack
Payments / PSP
MyFatoorah (self-operated)
Accounting gap: significant