Wafeq - About the company
Wafeq is a series A company based in Dubai (United Arab Emirates), founded in 2019 by Nadim Alameddine. It operates as a Provider of accounting and e-invoicing solutions for business owners. Wafeq has raised $10.5M in funding from Raed Ventures and 9900 Capital. The company has 2421 active competitors, including 185 funded and 157 that have exited. Its top competitors include companies like Intuit, Sage and Deltek.
Company Details
Provider of accounting and e-invoicing solutions for business owners. The company offers tools to send invoices, quotes, and purchase orders. It also provides features to manage inventory, payroll, and generate financial reports. The platform allows users to manage bills, purchase orders, and employee expense claims. It also facilitates VAT return generation and team collaboration with permission controls.
- Website
- www.wafeq.com/en
- Email ID
- *****@wafeq.com
Key Metrics
Founded Year
2019
Location
Dubai, United Arab Emirates
Stage
Series A
Total Funding
$10.5M in 2 rounds
Latest Funding Round
Investors
Ranked
47th among 2421 active competitors
Employee Count
99 as on Sep 30, 2026
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Wafeq's funding and investors
Wafeq has raised a total funding of $10.5M over 2 rounds. Its first funding round was on Jan 25, 2023. Its latest funding round was a Series A round on Dec 10, 2024 for $*****. 6 investors participated in its latest round. Wafeq has 5 institutional investors and 2 angel investors.
Here is the list of recent funding rounds of Wafeq:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Dec 10, 2024 | 4123742 | Series A | 1067841 | 5765704 | 3360830 | 2140189 |
Jan 25, 2023 | 4504081 | Seed | 1577343 | 2436017 |
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Wafeq's founders and board of directors
Founder? Claim ProfileThe founders of Wafeq is Nadim Alameddine. Nadim Alameddine is the CEO of Wafeq.
Here are the details of Wafeq's key team members:
- Nadim Alameddine: Founder & CEO of Wafeq. Contact Info: 1 email address
View details of Wafeq's Founder profiles and Board Members
Wafeq's employee count trend
Wafeq has 99 employees as of Sep 26. Here is Wafeq's employee count trend over the years:
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Wafeq's Competitors and alternates
Top competitors of Wafeq include Intuit, Sage and Deltek. Here is the list of Top 10 competitors of Wafeq, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Intuit 1983, Mountain View (United States), Public | Provider of financial, accounting, tax preparation, and marketing automation software | - | 83/100 | |
2nd |  Sage 1981, Newcastle Upon Tyne (United Kingdom), Public | Provider of cloud-based enterprise software solutions for accounting, finance, and people management | - | 78/100 | |
3rd | Deltek 1983, Herndon (United States), Acquired | Cloud based enterprise resource planning software provider for multi industries | $107M | 77/100 | |
4th | Cloud-based financial management and accounting software platform | $442M | 77/100 | ||
5th | FreeAgent 2007, Edinburgh (United Kingdom), Acquired | Cloud-based accounting software for small businesses, freelancers, and accountants | $21.9M | 76/100 | |
6th | Online accounting and invoicing solutions for SMBs | $40.9M | 76/100 | ||
7th | Xero 2006, Wellington (New Zealand), Public | Provider of accounting software and related tools for business management | - | 75/100 | |
8th | Web-based accounting software for businesses | $82.4M | 74/100 | ||
9th | Developer of business management software including accounting and payroll solutions | - | 70/100 | ||
10th |  Anna 2017, London (United Kingdom), Acquired | Cloud-based accounting management solutions for businesses | $88.3M | 68/100 | |
47th |  Wafeq 2019, Dubai (United Arab Emirates), Series A | Provider of accounting and e-invoicing solutions for business owners | $10.5M | 55/100 |
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Wafeq's Investments and acquisitions
Wafeq has made no investments or acquisitions yet.
Reports related to Wafeq
Here is the latest report on Wafeq's sector:
News related to Wafeq
•
Wafeq raises USD$7.5 Million in Series A funding to accelerate accounting digitization for MENA SMEsUaefintech•Dec 17, 2024•Wafeq
•
Wafeq raises $7.5mln Series A to accelerate accounting digitization for SMEs in the Middle EastBiz Preneur Me•Dec 10, 2024•Wafeq, 9900 Capital, PennyLane, Payhawk and 2 others
•
MENA Region Fintech Firm Wafeq Raises $3M via Seed Round Led by Raed VenturesCrowdfund Insider•Jan 31, 2023•Wafeq, Raed Ventures, Wamda Capital
•
Wafeq completes $3 million seed roundMy Startup World•Jan 25, 2023•Wafeq, Raed Ventures, Wamda Capital
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