UAE payments fintech Qlub closes $25 million funding round

UAE-headquartered payments fintech Qlub has raised $25 million in its latest funding round, bringing its total fundraising to $42 million.

Qlub enables customers to instantly pay their bills in restaurants within 10 seconds by scanning a QR code with their phone, even without an app or any registration, which increases table turnover, tips for waiters, and returning customers.

The new round was supported by existing and new investors, including the global investment firm Al Dhabi Capital and major family offices in the UAE.

The seed round was co-led by Cherry Ventures and Point Nine with participation from other global venture capital firms, including STV, Raed Ventures, Heartcore, Shorooq Partners, FinTech Collective, and several angel investors.

Qlub was founded in 2021 by Arun Sharma, Eyad Alkassar, Filiberto Pava, Gizem Bodur, Mahmoud Fouz, John Mady, Jeff Matsuda, Oscar Bedoya and Ramy Omar, and enables customers to instantly pay their bills in restaurants within 10 seconds by scanning a QR code with their phone, even without an app or any registration, which increases table turnover, tips for waiters, and returning customers. Customers can also split the bill with their friends and pay for it with Apple Pay, Credit Card, or in installments, which will be available soon.

Qlub has over 2,000 restaurants onboard, operating in the UAE, Saudi Arabia, Turkey, Brazil, Japan, Australia, India and Singapore, and will use this new funding to fuel growth as well as develop and launch new services for restaurants and customers who already use Qlub.