About UPayments
UPayments is a company based in Kuwait City (Kuwait) founded in 2008 by Nasser Al Humaidi was acquired by National Bank of Kuwait in December 2024.. UPayments operates in a competitive market with competitors including Flutterwave, PayU, CyberSource, Wirecard and UnionPay Intl, among others.
- Headquarter Kuwait City, Kuwait
- Founders Nasser Al Humaidi
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
- Investors
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Employee Count
Employee Count
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Acquired by
National Bank of Kuwait
(Dec 04, 2024)
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Funding Insights of UPayments
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Sep, 2019 | Amount | Seed - UPayments | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in UPayments
UPayments has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include National Bank of Kuwait. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Commercial bank
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by UPayments
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - UPayments
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Upayments Comparisons
Competitors of UPayments
UPayments operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Flutterwave, PayU, CyberSource, Wirecard and UnionPay Intl, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
Online payment processing and credit solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Global e-commerce payment processing and security services are managed.
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| domain | founded_year | HQ Location |
Payment processing solutions are provided for businesses and merchants.
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| domain | founded_year | HQ Location |
Mobile and online payment solutions are provided for banks.
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| domain | founded_year | HQ Location |
Financial technology and payment processing solutions are provided by Equiniti.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about UPayments
When was UPayments founded?
UPayments was founded in 2008 and raised its 1st funding round 11 years after it was founded.
Where is UPayments located?
UPayments is headquartered in Kuwait City, Kuwait.
Who is the current CEO of UPayments?
Nasser Al Humaidi is the current CEO of UPayments. They have also founded this company.
What does UPayments do?
Founded in 2008 in Kuwait City, Kuwait, UPayments operates in the fintech sector as a payment processing provider. Services include an API-integrated gateway for online payments, UPay for mobile invoicing through SMS, email, and apps like WhatsApp and Viber, recurring invoice creation for installments, URent for rental collections and property management, UEscrow for secure escrow handling, and UInterface for e-commerce integrations. Knet and credit card payments are accepted online.
Who are the top competitors of UPayments?
UPayments's top competitors include PayU, Flutterwave and CyberSource.
Who are UPayments's investors?
UPayments has 1 investor. Key investors include National Bank of Kuwait.