In a significant development for Qatar’s fintech sector, founder Mohammed Al-Delaimi has announced a combined $14 million in fresh capital for his two ventures, SkipCash and PayLater. The announcement, made during an interview at Web Summit Qatar 2026, includes a $4 million Series A for payments infrastructure provider SkipCash and a $10 million Seed round for the Buy Now, Pay Later (BNPL) platform PayLater.
The dual fundraises highlight a unique and successful strategy of building two complementary fintech companies at different stages of maturity, positioning Al-Delaimi as a key architect in the region’s evolving digital finance landscape.
The Dual Engine Strategy
Al-Delaimi attributes his ability to manage two scaling startups to a foundational focus on structure and governance. SkipCash, a mature payments solution provider with over 7,000 merchants, serves as the core infrastructure layer. PayLater, which processed an impressive QAR 300 million in its first year, functions as the consumer-facing engine built upon that foundation.
“That maturity created room for a second opportunity, PayLater,” Al-Delaimi explained. “This does not mean SkipCash no longer has challenges, but the team, talent, and experience we built there are now capable of handling growth and expansion independently.”
PayLater operates as a strategic client of SkipCash, leveraging its payment orchestration and operational expertise to scale rapidly. This synergy allows both companies to grow in concert, with SkipCash providing the rails and PayLater driving consumer adoption and financial behaviour.
Navigating Qatar’s Evolving Regulatory Landscape
The speed of regulatory approval showcases the maturation of Qatar’s fintech ecosystem. While SkipCash took nearly two years to secure its license, PayLater was licensed in approximately eight months. Al-Delaimi credits this acceleration to the increased experience and collaborative spirit of the regulators.
“When regulators see a serious team, a clear business model, and strong governance, they become partners rather than obstacles,” he noted. This supportive environment has been crucial in building trust and securing one of the largest seed rounds in Qatar’s history for PayLater.
Strategic Capital and BNPL Market Dynamics
PayLater’s $10 million Seed round was notably led by LuLu Alternative Investments, bringing strategic retail capital into the fold. The investment reflects LuLu’s positive experience with BNPL platforms in other GCC markets, where the model has proven to increase sales volume and average basket size.
The platform’s rapid traction, reaching QAR 300 million in transactions in under a year, points to strong market demand. A key advantage in Qatar is a regulatory framework that permits higher transaction limits than the GCC average. This has enabled PayLater to expand beyond discretionary purchases into essential sectors like education and healthcare, offering responsible financial planning for high-value needs.
Scaling Infrastructure with Tap-to-Phone
On the infrastructure side, SkipCash is heavily investing in Tap-to-Phone technology. Originally an online-only platform, its Tap-to-Phone solution has grown 40 percent faster and is now used exclusively by nearly 3,000 of its 7,000 merchants. The company’s next step is to integrate payments directly into electronic cash registers (ECRs), further streamlining operations for businesses in the F&B, hospitality, and service industries by reducing the number of required devices.
Expansion Ambitions in Saudi Arabia
With a strong foothold in Qatar, SkipCash has initiated regulatory filings to enter Saudi Arabia. Al-Delaimi sees immense opportunity in the Kingdom, citing the growth cycle anticipated from upcoming mega-events like Expo 2030 and the World Cup 2034. He believes the Saudi market is large enough to support multiple players and aims for SkipCash to be a significant contributor to its fintech ecosystem.
About SkipCash
SkipCash is a Qatari fintech company providing a comprehensive suite of payment solutions for businesses. Functioning as a payments infrastructure and orchestration layer, it serves over 7,000 merchants with online and innovative Tap-to-Phone payment technologies.
About PayLater
PayLater is a licensed Qatari Buy Now, Pay Later (BNPL) platform that allows consumers to split purchases into interest-free installments. The company focuses on enabling responsible spending for both everyday purchases and essential high-value services like education and healthcare.
Source: Rasmal
