Qoyod
“Can Qoyod become the default financial OS for Saudi SMBs by building ZATCA compliance and payments infrastructure into its accounting core?”
Founded2016
HQRiyadh, Saudi Arabia
FoundersAbdullah Al-Dayel
Total raised$2.7M
IndustryHorizontal SaaS / Accounting
The story
Founded in 2016 by Abdullah Al-Dayel to address the absence of a native Arabic cloud accounting solution for Saudi SMBs. The company evolved from basic bookkeeping software into a comprehensive cloud accounting and e-invoicing platform, shaped heavily by ZATCA regulatory mandates. Achieved ZATCA Phase 1 and Phase 2 certification, positioning Qoyod as a compliance infrastructure layer for Saudi businesses. Now serves 25,000+ businesses and operates a marketplace of third-party integrations covering payments, HR, e-commerce, and AI.
Last 12 months
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Product timeline
2016
Founded as the first 100% Saudi cloud accounting platform targeting SMBs.· pivot
2019
Expanded product with advanced POS solutions and inventory management; customer base grew to thousands of retailers and startups.· banking
2021
Became one of the first technical providers certified by ZATCA for Phase 1 e-invoicing implementation.· pivot
2023
Achieved Phase 2 ZATCA e-invoicing compliance (Fatoora platform integration) and expanded marketplace integrations.· pivot
The stack
2 layers disclosed in Qoyod’s embedded-finance stack
Payments / PSP
Accounting
in the full report
Accounting gap: none
12 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.