Dubai: Dubai-based fintech Spotii has raised an undisclosed amount of investment from Daman Investments. The startup did not disclose the exact size of the investment but told MENAbytes that it’s a seven-figure (USD) seed round.
Founded in 2019 by former Abraaj executive Anuscha Iqbal and her brother Ziyaad Ahmed, Spotii is a shop now pay later platform focused on fashion, beauty, and lifestyle brands.
The customers make interest-free payment over four equal installments. Spotii makes money by charging the merchants a platform fee.
It currently has over 30 merchants on its platform and is in the process of adding more.