Spendwisor
“Can a Qatar-based BNPL and digital payments platform become the embedded finance backbone for MSME merchants and consumers across the Middle East and Africa?”
HQDoha, Qatar (with US and UK presence)
Total raised$50M (commitment)
Latest roundShare Subscription Facility, 2021
IndustryFintech / BNPL & Digital Payments
The story
Spendwisor launched as a US-based mobile payment app with operations in Qatar and the UK, positioning itself around digital wallets and Smart POS for MSMEs. It evolved into a BNPL-focused fintech in Qatar under the Tamanna brand (Spendwisor, Inc.), offering Sharia-compliant installment payments licensed by the Qatar Central Bank. The company secured a $50M investment commitment from GEM Global Yield in 2021 to expand across MEA and Europe, adding cashback, QR-code payments, and merchant loyalty features to its core BNPL proposition.
Last 12 months
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Product timeline
2020
Tamanna BNPL (operating under Spendwisor, Inc.) founded in Qatar as a Sharia-compliant buy-now-pay-later platform licensed by the Qatar Central Bank.· lending
2021
Spendwisor secured a $50M Share Subscription Facility from GEM Global Yield to expand into the Middle East, Europe, and Africa fintech markets.· banking
2021
Spendwisor launched a Smart POS product accepting payments from any card, targeting retailers and MSMEs in the region.· pivot
The stack
1 layer disclosed in Spendwisor’s embedded-finance stack
Lending
Tamanna BNPL (4/6 equal monthly installments, Sharia-compliant)
Accounting gap: none