PayLater has secured $10 million in seed funding, marking one of the largest seed-stage fintech rounds in Qatar to date and reinforcing the country’s growing momentum in regulated financial innovation.
The round was led by LuLu Alternative Investments, with strategic participation from Qatar Development Bank and KBN Holding, alongside a group of angel investors.
Founded in 2023 by Mohammed Al-Delaimi and Khalifa Saleh Al Haroon, PayLater was built to meet rising demand for regulated, Shari’a-compliant instalment payments. Licensed by the Qatar Central Bank, the company operates as Qatar’s first central bank–licensed Buy Now, Pay Later platform, enabling consumers to split purchases into equal instalments with no interest and no hidden fees. For merchants, the platform offers a tool to boost conversion rates and average order value across both online and physical retail channels.
The fresh capital will be used to expand PayLater into new verticals including travel, education, and healthcare, while accelerating product development. The company is also investing in advanced credit assessment capabilities and deeper integrations with e-commerce platforms and in-store point-of-sale systems across Qatar.
Within its first year of operations, PayLater has processed more than $82 million in instalment-based transactions and grown its user base to over 80,000 customers. To support balance-sheet growth, the company has also secured a $27.5 million credit facility from Qatar Islamic Bank and Al Rayan Bank.
According to co-founder Mohammed Al-Delaimi, the funding reflects growing demand for flexible and responsible payment solutions in Qatar, as PayLater focuses on building local financial infrastructure that balances consumer spending discipline with merchant growth.
