PayLater, a Qatar-based Buy Now, Pay Later platform licensed by the Qatar Central Bank, has closed a $10 million seed funding round, ranking among the largest seed-stage investments recorded in Qatar’s startup ecosystem to date.
The round was led by LuLu Alternative Investments, with strategic participation from Qatar Development Bank and KBN Holding, alongside a group of angel investors.
Founded in 2023 by Mohammed Al-Delaimi and Khalifa Saleh Al Haroon, to address demand for regulated, Shari’a-compliant instalment payments, PayLater operates as Qatar’s first BNPL platform licensed by the central bank. The company enables consumers to split purchases into equal installments without interest or hidden fees, while providing merchants with a tool to increase conversion and average order value across both online and physical retail channels.
The new capital will be used to expand PayLater’s footprint into additional verticals, including travel, education, and healthcare, while accelerating product development. The company is also investing in advanced credit assessment technologies and deeper integrations with e-commerce platforms and in-store point-of-sale systems across Qatar.
Within its first year of operations, PayLater has facilitated more than $82 million in instalment-based transactions and built a user base exceeding 80,000 customers. To support balance-sheet growth, the company has also secured a $27.5 million credit facility from Qatar Islamic Bank and Al Rayan Bank.
Commenting on the raise, Al-Delaimi, co-founder of PayLater, said the funding reflects growing demand for flexible, responsible payment solutions in Qatar. He added that the company is focused on building local financial infrastructure that supports both consumer spending discipline and merchant growth.
