TigerPay

TigerPay, founded in 2022 by Prabh Singh and headquartered in Dubai, is a financial technology company focused on simplifying payment solutions for small and medium-sized enterprises (SMEs). The company operates in the mobile payments sector, offering a platform that transforms smartphones into virtual point-of-sale (POS) terminals, thereby eliminating the need for traditional, costly hardware.

The core of TigerPay's offering is its software-only solution that enables merchants to accept in-person card payments directly on their mobile devices. This service is particularly beneficial for businesses that require mobility, such as delivery services, pop-up shops, and vendors at festivals and roadshows. The platform functions by using an NFC-enabled smartphone to process transactions, which are facilitated through payment processors like Stripe. Beyond simple payment acceptance, the application provides merchants with reporting tools to manage their operations. The business model appears to be based on transaction fees, offering a zero upfront cost alternative to traditional bank POS terminals.

Since its inception, TigerPay has demonstrated early-stage traction, reporting over 2,000 merchant sign-ups within its first six months. The company has secured $250,000 in total funding over two rounds. A notable angel funding round in January 2024 included investment from Ashneer Grover, the former co-founder of Indian fintech company BharatPe. These funds are earmarked for expanding its merchant base and developing a neobank and an SME lending platform. The company has stated its ambition to become a leading merchant-first fintech in the UAE and the broader Gulf region, with plans to expand into new markets, including Saudi Arabia.

Keywords: mobile POS, SoftPOS, payment processing, SME financial services, virtual POS terminal, tap-to-pay, card payments, fintech, Dubai startup, merchant services, payment gateway, NFC payments, cashless solutions, card-on-delivery, digital payments, neobanking, SME lending, Ashneer Grover, Prabh Singh, emerging markets fintech