QESMA is a fintech startup based in Kuwait City, founded in 2020. It offers an Islamic-compliant Buy-Now-Pay-Later (BNPL) payment platform that allows users to split their payments into smaller parts without interest, adhering to Islamic finance principles. Customers can choose to pay later in 30 days or split payments into four parts at checkout, enhancing the shopping experience while respecting cultural and religious values.
Founded around 2020, QESMA has positioned itself as a pioneer in ethical fintech in Kuwait, focusing on simple, transparent payment solutions that resonate with users' values. It has a small but growing team (2-10 employees) and is recognized as one of Kuwait’s top startups to watch in fintech.
The company reportedly raised $5 billion in funding, an exceptionally large figure for a startup at seed stage, which may be a data anomaly or projection.
Another source mentions about $100K raised via convertible notes in 2023 from a German lead investor, with a valuation estimate between $9.5M and $18.2M, which seems more plausible for an early-stage fintech startup.
Islamic-compliant BNPL payment solutions.
Options to pay in 30 days or in four interest-free installments.
Integration at checkout to allow seamless payment choice.
The company emphasizes simplicity and adherence to Islamic finance principles as its core differentiator.
Strong commitment to ethical finance aligned with Islamic principles.
Focus on customer-centric simplicity and transparency.
Primarily targets Kuwaiti and Middle Eastern consumers who seek Sharia-compliant financial products.
