Wayl
Helping transform social media merchants into real businesses.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $150k | Seed | |
| Total Funding | 000k | ||
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Founded in 2021 by Ali Ismail, Wayl is a Baghdad-based financial technology company targeting Iraq's burgeoning e-commerce market. The firm operates as a payment aggregator and facilitator, providing a platform for small merchants, social media sellers, and freelancers to manage online transactions. Often described as the “Stripe for Iraq,” Wayl’s service enables users to create an online store, manage orders and inventories, and process payments without needing complex registration processes or direct payment gateway agreements.
Wayl's platform supports both local and international payment gateways and allows merchants to send payment links directly to customers. Key features include unlimited product listings, order and inventory tracking, and customer notifications. The company offers different subscription tiers, including a free plan for individuals and small stores and a professional plan for medium-sized businesses with more frequent settlements. For merchants, Wayl provides an electronic card that allows them to withdraw their earnings from any ATM or use the funds for online payments.
In February 2024, Wayl secured $150,000 in a pre-seed funding round led by EQIQ Ventures, an Abu Dhabi-based venture capital fund. This capital infusion is intended to support the company's operational expansion and product development. A significant milestone in the company's development was the formalization of a strategic partnership with Visa, announced at the Dubai FinTech Summit. This collaboration aims to establish Wayl as the first payment facilitator in Iraq, a market where an estimated 97% of transactions are still cash-based.
Keywords: payment facilitator, Iraq fintech, e-commerce payments, payment aggregator, online sellers, digital payments Iraq, freelance payments, social media merchants, online store builder, payment gateway Iraq, Ali Ismail, EQIQ Ventures, Visa partnership, Baghdad startup, order management, inventory management, payment processing, emerging market fintech, Middle East payments, financial technology