XSquare Raises Pre-Seed Funding Led by Raed Ventures

Thursday 20 August 2026 13:49

UAE-based business payments company XSquare has closed a pre-seed investment round led by Raed Ventures, with participation from AngelSpark, 500 Global and Oraseya Capital. The funding will support the company’s development of a B2B payments orchestration layer and help expand its operations across the Gulf, including the UAE and Qatar, ahead of a planned launch in Saudi Arabia.

XSquare Builds Unified B2B Payments Platform

XSquare is developing a platform designed to bring multiple B2B payment channels together, allowing businesses to collect funds, make payments and manage financial reconciliation across different providers without having to build separate systems.

The company operates in partnership with Mastercard, through which it provides businesses with a unified infrastructure for managing payment activities.

As part of the collaboration, XSquare enables government entities and large enterprises to use a dedicated B2B payments system that supports supplier financing and vendor payouts through corporate cards, with funds transferred directly into bank accounts.

Expansion Into Qatar

XSquare has also expanded its operations into Qatar, establishing a presence at the Qatar Financial Centre and working with licensed banks and payment solution providers in Doha.

The move represents the company’s first cross-border operation and forms part of its strategy to expand further across Gulf markets.

Saudi Arabia Expansion Planned

XSquare said it plans to use the new funding to deepen its relationships with banks and financial infrastructure providers while expanding its engineering and commercial teams.

The company also intends to prepare for the launch of its operations in the Saudi market in the near term.