Dubai: This Indian expat quit his engineering job, spent his savings to launch payment app
Dubai: This Indian expat quit his engineering job, spent his savings to launch payment app
An Indian expat in Dubai has launched a payment app that is gaining popularity in the fintech industry in the UAE. Prabh Singh, the co-founder and CEO of TigerPay, left his engineering job and enter the technology sector because he believed in the UAE’s vision for technological advancements.
However, his decision left many questioning his sanity. “My friends told me I am crazy,” said Singh who sold his watch and used up his savings to kickstart the development of his Minimum Viable Product (MVP).
With the support of friends and family, he raised $250,000 in the first round of funding, which laid the foundation for the app.
“TigerPay offers a convenient payment experience for merchants, allowing them to accept in-person card payments directly from their smartphones, eliminating the need for bulky hardware POS terminals or external devices,” said Singh.
“Within just two months of its launch, the app has attracted over 500 merchants without extensive marketing efforts,” he added. Singh attributes this early success to the app’s user-friendly interface and streamlined the onboarding process.
“The quick onboarding process, completed in less than 60 minutes, sets TigerPay apart from traditional banking systems that involve time-consuming procedures and in-person bank visits,” he explained.
“Apart from its efficiency, TigerPay offers additional features like generating payment links and QR codes, providing customers with multiple payment options,” said Singh
Encouraged by the positive response, TigerPay plans to expand into multiple regions in the upcoming months. Singh aims to raise $500,000 in the second round of funding to scale operations and further establish TigerPay as a revolutionary payment solution for merchants worldwide.
Singh believes that Dubai, with its focus on technology and fintech advancements, provides an ideal environment for the growth of TigerPay. Dubai is a hub for innovation, and we want to contribute to its thriving fintech ecosystem by providing merchants with a cost-effective and efficient payment solution,” he said.
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source: khaleejtimes
