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Foloosi

Foloosi

Foloosi (Arabic: فلوسي) is a UAE-based fintech startup founded by Omar Bin Brek (CEO) and Mohan K (CTO) in Dubai, UAE in 2018.

Foloosi (Arabic: فلوسي) is a UAE-based fintech startup founded by Omar Bin Brek (CEO) and Mohan K (CTO) in Dubai, UAE in 2018. The company launched its solutions in the UAE in January 2019. The company was started with an aim to reform the cash payments across UAE by offering digitized transactions in alignment to UAE vision 2021. In September 2019, Foloosi was recognised by Forbes' Middle East Fintech 20.

Product overview

Foloosi facilitates consumer-to-business card payments by providing features like payment gateway, payment links, scan & pay QR codes, and subscription-based payment. Foloosi's POS software also brings business management features to help businesses adjust items, manage employees, and view real time reports.

History & investments

Foloosi raised its Pre-Seed round from an Emirati entrepreneur and angel investor Rashed Alfalasi in June 2019. Foloosi in an exclusive statement on 8 August announced that the company crossed AED 1 million bi-annual gross transaction value (GTV). Foloosi on 5 September 2019 announced that it has raised $500,000 from the existing investor Rashed Alfalasi along with the new investor Mohammed Alsuwaidi. Through this funding round, the company aimed to expand in Gulf Cooperation Council (GCC) and Saudi Arabia.

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