10 Jan 2021 - 8:40
Michael Javier (front left), CEO & Co-founder of Cwallet, with other members of Operation Team Cwallet.
The Peninsula
Doha: Qatar-based financial technology startup, Cwallet, has closed a $220,000 pre-seed funding round from its founders and MBK Holding, now crossing the $2m valuation mark during a pandemic.
The fintech startup is working closely with the Qatar Central Bank (QCB) to obtain all the necessary licenses to launch their payroll and remittance feature soon.
Cwallet, which was founded in June 2019, aims to disrupt the current financial landscape model in Qatar. The blockchain powered 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.