Latest news with #LuLuFinancialHoldings
Wamda
27-05-2025
- Business
- Wamda
Qatar's PayLater receives strategic investment from LuLu AI
Qatar-based fintech PayLater has secured a "strategic" investment from LuLu Alternative Investments (LuLu AI), the investment arm of LuLu Financial Holdings. PayLater, founded in 2023 by Mohammed Al-Delaimi and Khalifa Saleh Al Haroon, is the first company to be licensed by the Qatar Central Bank to offer Buy Now, Pay Later (BNPL) services, providing secure and flexible installment-based and interest-free payment options to customers. The partnership brings LuLu AI's regional scale, capital, and fintech expertise to PayLater, enabling the startup to deepen its product offering and scale operations. Press release: LuLu AI, the investment arm of LuLu Financial Holdings, has announced a strategic investment in PayLater Qatar, one of the first licensed Qatari providers of Buy Now, Pay Later (BNPL) and embedded finance solutions. This investment marks LuLu AI's first into the Qatari financial ecosystem and aligns with its broader vision of building a connected network of next-generation financial service providers across emerging markets. PayLater is a Qatar-based fintech innovator offering Buy Now, Pay Later (BNPL) solutions designed to make everyday purchases more accessible, affordable, and empowering. The company recently achieved a significant milestone by becoming the first recipient of a BNPL license from the Qatar Central Bank. 'LuLu AI is more than just an investment portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings. 'Every investment we make is a step toward empowering individuals and businesses with tools that simplify life and unlock opportunity and inclusivity. PayLater embodies this ethos, and we are pleased to be part of their mission to drive accessible and responsible financial solutions.' 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar,' said Mohammed Al-Delaimi, Co-Founder & Managing Director of PayLater. 'LuLu AI brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region.' LuLu Alternative Investments was established to identify and back high-impact ventures that are solving real-world challenges in financial access, liquidity, compliance, and consumer experience. Its core thesis lies in leveraging capital to unlock capability — ensuring that startups have the runway to scale, the guidance to navigate regulatory landscapes, and the opportunity to collaborate across a trusted global network. By supporting firms like PayLater, LuLu AI is championing an inclusive and innovation-first approach to the digital economy.
Al Etihad
26-05-2025
- Business
- Al Etihad
Alibaba Cloud MENA chief bullish on expansion in UAE and region
27 May 2025 00:38 MAITHEM AL ANBARI (ABU DHABI)Alibaba Cloud recently made a significant impact at the Dubai FinTech Summit 2025 by announcing partnerships with LuLu Financial Holdings and Ant Digital Technologies. These collaborations aim to enhance financial innovation in the Middle East and North Africa (MENA) region through advanced cloud solutions and generative AI technologies. Aletihad met with Eric Wan, Vice President of Alibaba Cloud International and General Manager for the Middle East, Turkey, and Africa, to discuss the company's plans for expansion in the region. Here are excerpts from the interview: Alibaba Cloud is recognised as one of the largest online and mobile commerce enterprises globally. How would you describe Alibaba Cloud's participation in the Fintech Summit in the UAE?Alibaba Cloud has benefited from robust participation at the Dubai FinTech Summit 2025. We announced strategic partnerships with LuLu Financial Holdings and Ant Digital Technologies during the summit. We also hosted a panel discussion at the summit focused on the future of financial services in an AI-powered world. The panel featured industry experts, including executives from Lulu Financial Holdings, Wio Bank and Zand Bank. How would you characterise Alibaba Cloud's position within the fintech market, and what are the anticipated developments for the future?Alibaba Cloud holds a significant strategic position in the fintech market, owing to its robust cloud infrastructure and advanced technologies that can empower financial institutions with high performance and scalability. Once companies delegate infrastructure management to the cloud, they can focus their efforts on their core competencies. We are recognised as a leading cloud provider globally and in the region and have been expanding our footprint in the fintech sector through various strategic partnerships and innovative solutions. Here in the MENA region, we offer a wide range of cloud-based services. These solutions provide the necessary agility, scalability, and security required by financial institutions to innovate and grow. Integrating cutting-edge technologies like AI and data analytics into our cloud offerings allows fintech companies to enhance customer experiences, improve operational efficiencies, and ensure regulatory compliance. Given our global presence – in 87 zones across 29 regions – we support fintech companies in scaling up their operations. In the UAE, besides the recent partnerships with Lulu Financial Holdings and Ant Digital Technologies, we also announced our collaboration with Zand Bank, the first fully licensed all-digital bank in the UAE. This partnership focuses on leveraging generative AI, blockchain, and payment technologies to boost the bank's digital capabilities. What insights can you offer regarding Alibaba Cloud's expansion in the UAE and the agreements it has established with local counterparts?The UAE is a key market due to its thriving economy, tech-savvy population, and strategic location as a global trade hub. Alibaba Cloud is fully committed to long-term investment and expansion in the region, and we have our sights set on more strategic partnerships and investments in digital infrastructure. We believe our strengths in technologies such as AI and cloud computing, and industry solutions in e-commerce, fintech, media, gaming, etc., will likely play a crucial role in supporting the UAE's vision for a diversified and innovative economy. As a first mover in public cloud computing, Alibaba Cloud established a presence here by opening a data centre in Dubai Internet City back in November 2016. With a goal to provide local businesses with robust, secure, and high-performing capabilities, this data centre underwent an upgrade to include state-of-the-art cloud infrastructure, enhanced analytics, databases, industry solutions, and AI services. We have been serving hundreds of customers from different sectors, especially retail, finance, media, gaming, and internet, in the UAE market. In March 2024, we also launched the MEA region's Alibaba Cloud Academy Training Centre. The centre empowers our ecosystem partners and customers by delivering physical and virtual training workshops and certification courses to equip them with the skills needed to thrive in a digital economy. We partnered with Mawdoo3, the GCC's largest online content publisher, to provide the platform with a cost-effective and high-performance cloud infrastructure, including services such as Elastic Computing Service and Relational Database Service (RDS). Another significant project involved the implementation of Alibaba Cloud's Web Application Firewall (WAF) for WEMART, a prominent supermarket chain in the Middle East, taking its business from offline to online during the COVID-19 pandemic. As Alibaba Cloud is being chosen by more and more local businesses as their trusted cloud service provider, we are positive that we will continue to grow. What are the forthcoming initiatives for Alibaba as a group, including Alibaba's cloud business, international expansion, or trends in financial performance?Looking ahead, Alibaba Cloud views the Middle East as a region ripe with opportunities, driven by its rapid digital transformation across various sectors. I want to emphasise Alibaba Cloud's long-term commitment to investing in the market and to contributing to the success of our local customers and partners. We will continue to introduce leading products and proven solutions in the AI and cloud computing sector to serve our local customers. We will expand our ecosystem with more local partners on board to address sector-specific pain points. We also plan to collaborate with more universities to enhance digital talent training.
Qatar Tribune
21-05-2025
- Business
- Qatar Tribune
LuLu AI invests in PayLater Qatar
Tribune News Network Doha LuLu AI, the investment arm of LuLu Financial Holdings, has announced a strategic investment in PayLater Qatar, one of the first licensed Qatari providers of Buy Now, Pay Later (BNPL) and embedded finance solutions. This investment marks LuLu AI's first into the Qatari financial ecosystem and aligns with its broader vision of building a connected network of next-generation financial service providers across emerging markets. PayLater is a Qatar-based fintech innovator offering Buy Now, Pay Later (BNPL) solutions designed to make everyday purchases more accessible, affordable, and empowering. The company recently achieved a significant milestone by becoming the first recipient of a BNPL license from the Qatar Central Bank. 'LuLu AI is more than just an investment portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said LuLu Financial Holdings MD Adeeb Ahamed. 'Every investment we make is a step toward empowering individuals and businesses with tools that simplify life and unlock opportunity and inclusivity. PayLater embodies this ethos, and we are pleased to be part of their mission to drive accessible and responsible financial solutions,' he said. 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar,' said PayLater Co-Founder & Managing Director Mohammed Al Delaimi. 'LuLu AI brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region,' he said. LuLu Alternative Investments was established to identify and back high-impact ventures that are solving real-world challenges in financial access, liquidity, compliance, and consumer experience. Its core thesis lies in leveraging capital to unlock capability — ensuring that startups have the runway to scale, the guidance to navigate regulatory landscapes, and the opportunity to collaborate across a trusted global network. By supporting firms like PayLater, LuLu AI is championing an inclusive and innovation-first approach to the digital economy.
Daily Tribune
21-05-2025
- Business
- Daily Tribune
LuLu AI Invests in PayLater Qatar to Advance the Future of Financial Inclusion
LuLu AI, the investment arm of LuLu Financial Holdings, has announced a strategic investment in PayLater Qatar, one of the first licensed Qatari providers of Buy Now, Pay Later (BNPL) and embedded finance solutions. This investment marks LuLu AI's first into the Qatari financial ecosystem and aligns with its broader vision of building a connected network of next-generation financial service providers across emerging markets. PayLater is a Qatar-based fintech innovator offering Buy Now, Pay Later (BNPL) solutions designed to make everyday purchases more accessible, affordable, and empowering. The company recently achieved a significant milestone by becoming the first recipient of a BNPL license from the Qatar Central Bank. 'LuLu AI is more than just an investment portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings. 'Every investment we make is a step toward empowering individuals and businesses with tools that simplify life and unlock opportunity and inclusivity. PayLater embodies this ethos, and we are pleased to be part of their mission to drive accessible and responsible financial solutions.' 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar,' said Mohammed Al-Delaimi, Co-Founder & Managing Director of PayLater. 'LuLu AI brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region.' LuLu Alternative Investments was established to identify and back high-impact ventures that are solving real-world challenges in financial access, liquidity, compliance, and consumer experience. Its core thesis lies in leveraging capital to unlock capability — ensuring that startups have the runway to scale, the guidance to navigate regulatory landscapes, and the opportunity to collaborate across a trusted global network. By supporting firms like PayLater, LuLu AI is championing an inclusive and innovation-first approach to the digital economy. About LuLu AI LuLu Alternative Investments is the investment arm of LuLu Financial Holdings, focused on identifying and nurturing early- and growth-stage companies across global markets. With a mandate to invest in the future of finance, LuLu AI supports ventures that are reimagining access to money through technologies like AI, blockchain, real-time payments, embedded finance, and open banking. Positioned at the intersection of capital, compliance, and connectivity, LuLu AI is building an ecosystem of synergistic financial service providers that champion inclusion, sustainability, and innovation. For press enquiries, contact: Vishnu Prasad - About PayLater PayLater is Qatar's first licensed BNPL platform, providing secure and flexible installment-based and interest-free payment options to customers. PayLater's Shariah-compliant service is dedicated to empowering consumers with financial freedom and contributing to the growth of Qatar's digital economy. Serving more than one hundred thousand registered users, and with a vast and rapidly expanding network of merchants across the nation, from the biggest consumer brands to small businesses, wherever anyone shops in Qatar, PayLater is the only way to split-pay.
ILoveQatar.net
21-05-2025
- Business
- ILoveQatar.net
PayLater and LuLu AI partner to shape Qatar's fintech future
PayLater, Qatar's first licensed Shari'a-compliant Buy Now, Pay Later (BNPL) provider, announces a strategic investment partnership with LuLu Alternative Investments (LuLu AI), the fintech investment arm of LuLu Financial Holdings. This collaboration marks another important milestone for Qatar's fintech sector, as it fuels PayLater's mission to create ethical, user-driven financial technology that's scalable, inclusive, and innovation-led. As a homegrown fintech startup, PayLater has quickly emerged as a category-defining company, rethinkingcredit for the digital era. In under a year, it has onboarded over 100,000 users, partnered with 150+merchants across 200 branches, and delivered seamless, interest-free installments. The platform integrates into point-of-sale and e-commerce systems and is fully linked to Qatar's Credit Bureau. LuLu AI's investment is a strategic alignment driven by a shared commitment to smarter, more inclusive everyday transactions. 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar. LuLu brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region,' said Mohammed Al-Delaimi, Co-Founder and CEO of PayLater. 'Through LuLu AI, we are building more than a portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings. LuLu AI's investment is a strong vote of confidence in Qatar's growing digital economy and marks its firstdirect fintech investment in the country. It aligns with the firm's mission to support disruptive financial technologies in high-growth markets. The partnership will accelerate PayLater's roadmap by expanding features, enhancing merchant tools, anddelivering deeper personalization and real-time insights, all while maintaining its ethical, Shari'a-compliantfoundation. It also sets a model for how startups and institutional investors can shape the future of fintech in the GCC. Source and cover image: Press Release Follow us on our social media channels: @ILQlive @ILQlive @ILoveQtr ILoveQatar Start a discussion
