Qatar Blockchain fintech startup Cwallet crosses 2 million USD valuation

Qatar based Blockchain enabled Fintech startup, CWallet, has closed a new  $220,000 pre-seed funding round from its founders and  MBK Holding. This makes the total investment in Cwallet to date to $2 million plus.  The startup is now working closely with Qatar Central Bank to obtain all the necessary licenses to launch  their payroll and remittance feature in the near future. 

Cwallet was founded in June 2019  and  it aims to disrupt the  current financial  landscape model  in Qatar. This Stellar powered blockchain wallet  was designed and  developed to be a one stop shop where users can, get paid,  spend,  transfer airtime  top-up  form  home   country  and  eventually   receive  their  salary  and  send money  back home  along with cross border  bills payment feature. 

Not  only  does  Cwallet   provide   digital   wallet   services,  but  now  merchants,  including   startups and e-commerce  platforms  can  use Cwallet  as a  built-in  wallet  for  their  app  via API integration.  “We  are looking  to make  payment gateways affordable in Qatar, paving the way for smaller businesses to process online transactions with ease and affordability.” Said Michael Javier, CEO & Co-founder of Cwallet.