Madfooat.com

Madfooat. com is a financial technology company focused on enhancing payment processes in the MENA region through innovative solutions and user-friendly applications. Founded in 2011 and headquartered in Amman, Jordan, Madfooat. com specializes in electronic payment solutions.

The company, established by Nasser Saleh, has undergone strategic shifts to enhance its service offerings. As of April 2018, it raised USD 2. 3 mn in Series B funding led by the Arab Palestinian Investment Company, marking its first investment target deal. Madfooat.

com offers a suite of financial technology solutions designed to streamline payment processes. Their key products include the eFAWATEERcom system for real-time bill payments, a secure Payment Gateway for credit card transactions, and the MadPay mobile application for money transfers and bill payments. The company also provides shopping vouchers for platforms like iTunes and PlayStation, catering to a diverse clientele across Jordan, Oman, Palestine, and Saudi Arabia. Madfooat.

com generates revenue primarily through transaction fees related to its payment services. Businesses utilizing the eFAWATEERcom platform incur fees for bill payments, while users of the MadPay app may face charges for money transfers. The Payment Gateway serves as a B2B service for secure credit card transactions, contributing to the overall revenue stream, which is supported by partnerships with various retailers and service providers. Following its recent fundraising in April 2018, Madfooat.

com plans to further develop its service offerings and expand its market presence. The company aims to introduce new products and enhance its technology infrastructure. Expansion plans include penetrating additional markets in the MENA region, with specific targets set for the coming years, utilizing funds from the USD 2. 3 mn raised in their Series B round to support these growth initiatives.