Qatar-based Rasmal Ventures has invested in Yuno’s $45M Series B, joining a funding round that will support the payments infrastructure company’s expansion as it establishes Qatar as its GCC regional hub.
The round was led by Global PayTech Ventures, with participation from Andreessen Horowitz, Tiger Global, QuantumLight Capital, Monashees, Kaszek and Endeavor Catalyst. GrowthX Capital and Abu Dhabi-based Further Ventures also joined Rasmal as investors.
Founded in 2022 by Juan Pablo Ortega and Julián Núñez, Yuno connects businesses to more than 1,000 payment methods through a single API across 190 countries. The company also offers more than 460 integrations, intelligent routing, one-click checkout and AI-powered fraud detection, according to the announcement.
Yuno has expanded its Gulf presence through payment technical service provider certification in Saudi Arabia and partnerships with Tap Payments and Tabby. These partnerships provide access to local payment rails across the GCC and connect Yuno to more than 25 million shoppers in Saudi Arabia and the UAE, the company said.
Yuno said it recovered more than $5B in otherwise failed transaction volume over the past year, increased authorisation rates by approximately 5% and saved customers more than $500M in processing costs.
Source: Wamda
