In a significant milestone for Qatar’s startup ecosystem, Vodafone Qatar has acquired MaktApp, the parent company of the popular payments platform Fatora. The deal marks a full-circle moment for co-founders Saleh Al Mansoori and Waleed Alyafei, who began their entrepreneurial journey within Qatar Science & Technology Park’s (QSTP) accelerator program back in 2016, transforming an early-stage idea into a major local tech success story.
Quick Facts
- The Deal: Vodafone Qatar acquired fintech startup MaktApp.
- The Genesis: Founded at QSTP’s former XLR8 accelerator in 2016.
- The Product: Pivoted from business management software to the Fatora payments platform.
The Pivot from Management Software to Payments
The company didn’t start as a payments platform. Al Mansoori and Alyafei initially developed MaktApp, a business management tool designed to help companies digitize their operations. However, by working closely with merchants, they uncovered a more pressing need.
Many businesses didn’t require a complex, all-encompassing system. Instead, they needed a simple, fast, and practical solution for daily invoicing and payments. This insight sparked a crucial pivot. The team shifted focus to create Fatora, which began as a dedicated invoicing product. Over the years, it expanded into a unified commerce platform offering online payments, digital storefronts, POS solutions, and payment links.
Navigating Early-Stage Ecosystem Challenges
The path was defined by persistence and adaptation. The founders recall the early days as a period of intense learning and uncertainty, marked by long hours and late nights.
“We worked late nights, sometimes staying awake for long hours to prepare a product demo, an investor presentation, or a customer pitch,” they shared.
Building Fatora involved more than just software development. The team had to educate a market still accustomed to traditional business methods, explaining the value of digital tools. They also navigated complex technical hurdles, including payment gateway integrations, compliance requirements, and financial infrastructure—all while building trust with partners and customers.
QSTP’s Role in Scaling Up
Throughout their journey, the founders credited QSTP for providing critical support beyond just physical workspace. The ecosystem offered mentorship, funding, and access to a network that was instrumental in their growth from technologists into entrepreneurs.
“QSTP gave us more than a physical place to work,” the founders explained. “It helped us understand what it takes to build a real technology company, not just a software product.” This support helped them master business models, partnerships, sales, and operations.
A Full-Circle Acquisition Milestone
The acquisition by Vodafone Qatar, finalized in April 2023, represented the culmination of years of effort. For the founders, it was a deeply emotional event that validated their long journey from the early days of uncertainty to a successful exit.
“The acquisition was emotional for us,” they said. “It reminded us of the early days, the late nights, the uncertainty, the first customers, and the moments when we were not sure how far the company could go.”
Returning to QSTP to celebrate the deal underscored the significance of the local ecosystem in their success. The story of MaktApp and Fatora now stands as a powerful example of how homegrown Qatari startups can scale, compete regionally, and achieve long-term impact.
About MaktApp
MaktApp is the Qatar-based parent company of Fatora, a unified commerce and payments platform. Launched by Saleh Al Mansoori and Waleed Alyafei, Fatora provides merchants with a suite of digital tools, including online invoicing, payment gateways, e-commerce stores, and POS solutions, enabling businesses to manage and grow their operations online.
Source: Qatar Science & Technology Park
