XSquare Raises Pre-Seed Funding to Expand B2B Payments Platform in the GCC

XSquare is building a payment platform designed specifically for businesses. It brings different payment methods and providers together through one system, allowing companies to collect payments, make payments, and manage transactions without connecting to several separate systems.

The company says its platform is the region’s first payment orchestration layer built only for B2B businesses. XSquare is launching with payment providers including Telr, Geidea, VaultsPay, Spare, and Tess Payments. It plans to add more partners as it expands.

“B2B payments in this region have been underserved for too long, forced onto tools built for consumer markets. We are building the payment infrastructure that regional businesses need: card and bank rails, orchestration and reconciliation, all in one place. Having Raed Ventures lead this round, alongside AngelSpark, 500 Global and Oraseya Capital, is a strong endorsement of that vision and of the traction we are seeing with Banks, Government entities and large Corporates.” said Tanvir Shah, Co-founder and Chief Executive Officer, XSquare

“The B2B payments opportunity across the GCC is large and still largely untapped, and XSquare is one of the few teams with both the banking depth and technical execution to capture it. Their early traction with Banks, Government entities and enterprise clients, together with their progress on the Mastercard B2B programme, gave us the conviction to lead this round. We look forward to supporting the team as they scale across the region.” Said, Saed Nashef, Founding Partner, Raed Ventures

XSquare was founded in 2023 by Tanvir Shah and Ashwin Shenoy. The company is developing a payment platform designed specifically for businesses.

XSquare brings different payment methods, collections, payments, and transaction reconciliation into one system. This makes it easier for businesses to manage their payments without using multiple separate platforms.

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