Latest news with #MohammedAl-Delaimi
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
Zawya
02-05-2025
- Business
- Zawya
Qatar's fintech sector growth accelerated by QNV 2030
Doha: Qatar's fintech sector has seen remarkable growth over the past five years, driven by the government's Qatar National Vision 2030, which prioritizes digitalization and a cashless economy, Mohammed Al-Delaimi, CEO and Co-Founder of PayLater, Qatar's first fully licensed Buy Now, Pay Later (BNPL) platform has said. 'The QCB's fintech strategy, including a five-year roadmap for innovations like blockchain, AI, and open banking, has created a fertile environment for startups like PayLater. Additionally, initiatives like the $1 billion fund announced at Web Summit 2024 and the establishment of six tech-focused funds in 2025 signal robust support for Qatar's tech ecosystem,' Al-Delaimi noted. He added that these elements—government vision, central bank strategy, and funding—have been critical to the success of the fintech sector in the country. PayLater secured its license from the Qatar Central Bank (QCB) on the last day of Ramadan, marking a significant milestone for the company and the country's financial ecosystem. According to him, PayLater's journey began with a clear mission: to alleviate financial stress for Qatar's residents by offering a flexible, interest-free payment solution. The platform allows customers to split purchases into four equal installments without hidden fees, distinguishing itself from traditional credit cards and bank-offered BNPL services that often carry interest charges. 'Our goal is to provide a tool that reduces financial strain, whether it's a parent planning a vacation, a student buying a laptop, or a tech enthusiast upgrading their phone,' Al-Delaimi explained. By charging merchants instead of consumers, PayLater ensures a transparent and cost-free experience for users. The idea for PayLater was sparked by the QCB's introduction of a BNPL framework, which Al-Delaimi and his co-founders saw as a golden opportunity. 'We came together as entrepreneurs to seize this moment,' he said, noting that the team's personal experiences with financial management fueled their passion. The platform's rapid adoption underscores its relevance: within 40 days of launching, PayLater recorded 70,000 app downloads, with 60,000 users completing registration and 12,000 making transactions across 120 partner stores, including well-known retailers like Fnac, Jarir Bookstore, Carrefour, and IKEA. Unlike other BNPL providers, PayLater is selective about its partnerships, focusing on sectors like travel, car insurance, and retail to encourage responsible spending. 'We're not signing up with grocery stores where purchases are frequent,' Al-Delaimi emphasized. 'Our solution is about helping customers manage significant expenses, not piling up debt.' This approach aligns with PayLater's commitment to financial wellness, ensuring users can regulate payments without overextending themselves. PayLater's differentiation lies in its customer-centric features. Users can shop online, scan QR codes in-store, or pay via links sent by merchants. The platform also offers flexibility in managing installment dates, allowing users to align payments with their salary schedules at no extra cost. Looking ahead, PayLater plans to introduce a marketplace feature by September, offering cashback rewards and loyalty points to enhance the user experience. 'We're gamifying the customer journey to make it engaging,' Al-Delaimi said, highlighting the strategic timing to coincide with the back-to-school season. The company's partnership with Qatar Islamic Bank (QIB), one of the country's largest Islamic banks, further strengthens its position. QIB serves as the lending partner, ensuring compliance with BNPL regulations while boosting consumer trust. This collaboration, combined with PayLater's integration with SkipCash's online payment infrastructure, positions the company for significant growth in Qatar and potentially across the MENA region. Al-Delaimi envisions a future where fintech solutions like PayLater become integral to Qatar's financial landscape, offering tools for budgeting, investing, and wealth management. 'In five years, I see bank accounts seamlessly integrated with startup solutions, empowering customers to make smarter financial decisions,' he predicted. He added that with digital banks and investment apps gaining traction in the MENA region, PayLater aims to set a benchmark for user-friendly, innovative services. As Qatar continues to embrace digital transformation, PayLater stands out as a pioneer, blending convenience, transparency, and financial empowerment. With ambitious plans to expand its offerings and deepen its market presence, the company is poised to redefine how Qataris shop, pay, and thrive in an increasingly digital world. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
22-04-2025
- Business
- Zawya
PayLater app ranks #1 in finance, top 3 overall in Qatar within 1 month of launch
Doha, Qatar – PayLater, Qatar's first licensed Shari'a-compliant Buy Now, Pay Later (BNPL) provider, has made waves in the digital finance space, and within just a month of its public launch of the app on Apple and Android, it skyrocketed to the #1 position in the Finance category and Top 3 overall ranking across Qatar, surpassing giants such as Google Wallet and Paypal. This remarkable milestone is a testament to the local demand for ethical, user-centric financial solutions and the trust customers have placed in the PayLater brand "Our goal has always been to redefine how consumers manage their spending—giving them more control, flexibility, and financial clarity. Seeing the app rank so quickly among Qatar-based users confirms the need for solutions like ours in the market,' said Mohammed Al-Delaimi, Co-Founder and CEO of PayLater. The PayLater app offers zero-interest installment options for shoppers across select online and in-store merchants. With seamless onboarding, real-time approvals, and ease of use for its users, it aims to provide a responsible path to financial empowerment while being fully integrated with Qatar's Credit Bureau, The immediate and increased demand for PayLater reinforces Qatar's growing fintech landscape and highlights the appetite for alternative payment solutions that align with national goals for innovation and digital transformation. Download the PayLater app today at and be part of the financial revolution.
