Shorooq, a well-known investment firm that works across venture capital, credit, and alternative investments, has signed an MOU (Memorandum of Understanding) with PayLater. The goal of this agreement is to explore ways to create a strong and scalable credit facility that can support PayLater’s future growth.
PayLater is Qatar’s first Buy Now, Pay Later (BNPL) company, licensed by the Qatar Central Bank (QCB) and operating in accordance with Sharia-compliant principles. It offers payment solutions designed specifically for the local market and operates under strict regulatory supervision.
Over the years, PayLater has built a strong position in Qatar’s BNPL space. The company has shown careful lending practices, steady growth, and increasing adoption by both merchants and customers, making it a good fit for larger and more structured credit support.
For Shorooq, this MOU highlights its strength in the credit investment space. The firm specializes in creating customized financing solutions for fast-growing and regulated businesses, especially in the fintech sector.
The potential partnership fits well with Shorooq’s broader strategy of providing non-dilutive capital. This means helping companies grow without reducing founder ownership, while giving them the financial support they need to scale effectively.
Mahmoud Adi, Founding Partner at Shorooq, said, “This MOU reflects our conviction that the next phase of fintech growth in the region will be driven by disciplined, well-regulated platforms that can absorb institutional capital at scale. PayLater has built a strong foundation as Qatar’s first QCB-licensed, Sharia-compliant BNPL provider, and we see significant potential in working together to structure a credit solution that supports sustainable growth while setting a new benchmark for the market.”
Dr. Devid Jegerson, Chief Executive Officer of PayLater, added: “Shorooq is a strong validation of the progress PayLater has made since inception. As we scale our platform, access to sophisticated, Sharia-compliant credit structures is critical to serving our customers and merchant partners responsibly. We look forward to exploring a partnership that supports our long-term vision and reinforces Qatar’s position as a leading fintech hub.”
These discussions are taking place at a time when the region is placing greater emphasis on Sharia-compliant digital finance and building strong, institutional-level funding systems to support regulated fintech companies as they grow.
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