About Wafeq
Wafeq is a company based in Dubai (United Arab Emirates) founded in 2019 by Nadim Alameddine. Wafeq has raised $10.5 million across 2 funding rounds from investors including Payhawk, Chris Corbishley and Gary Turner. Wafeq operates in a competitive market with competitors including Intuit, Visma, Clear, Wave and Xero, among others.
- Headquarter Dubai, United Arab Emirates
- Founders Nadim Alameddine
- SectorsTechnology
- Email••••••••
- Website wafeq.com/en
- Social LinkedIn
- Total Equity Funding$10.5M (USD)
in 2 rounds
- Latest Funding Round$7.5M (USD), Series A
Dec 2024
- InvestorsPayhawk
& 5 more
Funding Insights of Wafeq
Wafeq has successfully raised a total of $10.5M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $7.5 million completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $10.5M
- Total Rounds 2
- Last Round Series A — $7.5M
- First Round $3M
(Jan 2023)
- Investors Count 6
All 2 funding rounds of Wafeq with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2024 | $7.5M | Series A | – | Chris Corbishley, 9900 Capital | |
| Jan 2023 | $3M | Seed | – | Raed Ventures |
6 investors in total: 4 institutional and 2 angel.
Investors in Wafeq
Wafeq has secured backing from 6 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Payhawk, Chris Corbishley and Gary Turner.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage tech startups are invested in by Raed Ventures. | – | raed.vc | Riyadh, Saudi Arabia | |
Tech & Offline focused VC firm investing in seed & growth stage startups in the US & UAE | – | wamdacapital.com | Dubai, United Arab Emirates | |
Financial advisory services are offered by 9900 Capital Ltd. | – | 9900capital.com | London, United Kingdom | |
Cloud-based expense management is offered for corporate travelers. | 2018 | payhawk.com | Sofia, Bulgaria | |
CC Chris Corbishley | Angel investor and advisor, focused on Indian startups, ex-Kalaari Capital. | – | unknown_fb4bfa4846044439b | - |
GT Gary Turner | - | – | unknown_3ed4b21504744f9c9 | - |
Investor details for Wafeq
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Wafeq
15 people are tracked at Wafeq (4 in leadership, 11 in team).
| Name | Role | Group |
|---|---|---|
Nadim Alameddine | Founder & CEO | Leadership |
Badr Nour | VP Of Marketing | Leadership |
Maher Aoun | VP Of Sales And Business Development | Leadership |
Ziad Bizri | Chief Technology Officer | Leadership |
Naim Buru | Full-stack Software Engineer | Team |
Dana Hammoud | Sales Development Representative - Saudi Arabia | Team |
Rudaina Alshomrani | Associate Sales Manager | Team |
Alaa Fawzy | Senior Sales Development Specialist | Team |
Muhammad Saber Farrag | Senior Marketing Manager | Team |
Angelique Mae Llamado | Lead Accountant | Team |
Amine Alameddine | Product Manager | Team |
Jinel Kris Ann Zarate-Aquino | Accountant | Team |
Mohamed Adss | Enterprise Sales Manager | Team |
Kunal Devabhai | Sales Manager | Team |
Mark Aziz | Strategic Partnerships Manager | Team |
Complete people profiles for Wafeq
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Wafeq
3 dated milestones of Wafeq across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Wafeq is founded.
- Funding First funding round of $3.0M.
- Funding Latest funding round, Series A, of $7.5M.
Competitors of Wafeq
Wafeq 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 Intuit, Visma, Clear, Wave and Xero, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| intuit.com | 1983 | Mountain View, United States | $49.62M | 18,800 | Financial and accounting software is developed for businesses and individuals. | |
| visma.com | 1996 | Oslo, Norway | $198.09M | – | Cloud-based ERP software is provided for business management across segments. | |
| clear.in | 2011 | Bengaluru, India | $140.42M | – | Technology-enabled accounting and finance solutions are offered for SMBs. | |
| waveapps.com | 2010 | Toronto, Canada | $82.4M | – | Web-based accounting software is offered for business use. | |
| xero.com | 2006 | Wellington, New Zealand | – | 347 | Cloud-based accounting and payment management is offered for small businesses. | |
| freshbooks.com | 2003 | Toronto, Canada | $153.75M | 613 | Cloud-based invoicing and accounting software is offered for businesses. | |
| freeagent.com | 2007 | Edinburgh, United Kingdom | $21.89M | 264 | Cloud-based accounting software is provided for small businesses and freelancers. | |
| found.com | 2019 | San Francisco, United States | $118.75M | 35 | Accounting and bookkeeping solutions are provided for small businesses. | |
| pennylane.com | 2020 | Paris, France | $237.4M | – | Cloud-based accounting and financial management solutions are provided for businesses. |
Detailed competitors of Wafeq
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
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Web traffic of Wafeq
The website of Wafeq (wafeq.com) receives about 607.9K visits a month.
- Monthly visits607.9K
▲ 18.3% vs previous month
Websites whose visitors overlap most with Wafeq. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| daftra.com | 100% | – | #20,111 | View details | |
| qoyod.com | 96% | 977.7K | #39,776 | View details | |
| lastpass.com | 63% | 24.6M | #2,627 | View details | |
| upwork.com | 62% | 38M | #886 | View details | |
| aliphia.com | 62% | – | #323,320 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Wafeq
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 40 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Latest news on Wafeq
Complete news archive for Wafeq
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Wafeq
10 companies that operate in the same segment as Wafeq (Finance & Accounting Applications), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 | |
Subscription-based online banking is offered to SMEs and freelancers. | 2017 | Paris, France | USD 717.15 M | – | – | |
Cloud-based ERP software is provided for business management across segments. | 1996 | Oslo, Oslo, Norway | USD 198.09 M | – | – | |
Payflow is recognized as a financial wellness application for employees. | 2020 | Alcobendas, Comunidad De Madrid, Spain | USD 58.23 M | – | – | |
Cloud-based HR and payroll solutions are offered for small businesses. | 2012 | San Francisco, California, United States | USD 718.35 M | – | – |
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Frequently Asked Questions about Wafeq
Wafeq was founded in 2019 and raised its 1st funding round 4 years after it was founded.
Wafeq is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Nadim Alameddine is the current CEO of Wafeq. They have also founded this company.
Wafeq is a funded company, having raised a total of $10.5M across 2 funding rounds to date. The company's 1st funding round was a Seed of $3M, raised on Jan 2023.
Provider of SaaS-based platform offering accounting and finance solutions. It offers solutions such as payroll management, inventory tracking, reports and insights, and more.
Wafeq has 6 investors. Key investors include Payhawk, Chris Corbishley, Gary Turner, RAED Ventures, and Wamda Capital.
The website of Wafeq receives about 608 thousand visits a month.