Qatar’s Karty Announces $2 Million Seed Funding to Unveil New Digital Wallet
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Qatar-based fintech startup KARTY has successfully concluded a significant seed funding round. Over $2 million (7.3M Qatari Riyals) was raised from the latest funding.
This remarkable achievement, raised by a diverse group of local investors, marks a pivotal milestone in KARTY’s journey towards establishing a significant presence in the Qatari market. This development precedes its eagerly anticipated launch, which will come immediately after the approval and license issuing by the Qatar Central Bank.
KARTY To Offer Cutting Edge Solutions
KARTY is preparing for the launch of its financial resource management application and innovative solution. This was after an initial approval was secured for growth and demonstration via a collaboration with Masraf Al Rayan and in agreement with the regulations set by the Central Bank of Qatar (QCB).
The Chief Executive Officer and co-founder of KARTY, Mohammed Suleiman, expressed his enthusiasm regarding this significant breakthrough. He said in a speech that the members of KARTY are very proud of the confidence placed in them by their investors.
He spoke further that they are highly motivated by the investors’ belief in their vision to provide cutting-edge solutions for financial asset management via e-wallet.
Similarly, Visa’s Vice President & General Manager for Kuwait and Qatar, Mr. Shashank Singh, congratulated KARTY on completing the seed round. He endorsed their objective to offer innovative and secure financial services to people and businesses. Singh also shared the company’s dedication to enhancing financial knowledge in Qatar and other places.
He spoke on the potential to adopt an inclusive, secure, and flourishing future collaboratively and conveyed Visa’s eagerness to support KARTY in this thrilling new stage of their progress.
KARTY Sets To Roll Out An E-Wallet
Growing with knowledge, KARTY is ready to launch an innovative e-wallet solution with extensive payment functionalities assisted by Visa. Clients of KARTY can benefit from a range of premium services that facilitate rapid and effective financial management.
This comprises the immediate peer-to-peer transfer of money, the capability to track spending habits using interactive charts, and monitoring daily spending.
The newly introduced features aim to improve user’s understanding and management capabilities substantially. These services are combined into a single secure e-wallet, designed strategically to optimize efficiency and reduce stress.
KARTY’s app is Qatar’s top digital wallet application. It focuses on promoting financial awareness and savings. The application is not just a typical application; it was designed to pave the way for financial empowerment.
It provides a wide variety of financial services through a secure platform. KARTY’s launch aims to increase financial knowledge among people in Qatar and other regions by helping users make intelligent and well-informed decisions.
