Wayl Secures, a payments platform for online sellers in Iraq, has raised $150,000 in pre-seed funding from EQIQ Ventures. The fund is led by venture capitalist Mohamed Al-Hakim. This fresh capital will help Wayl scale its digital-payments solution across Iraq.
Currently, Iraq’s e-commerce scene is booming. Experts expect the market to hit $15 billion by 2027. This gap shows a clear need for modern, digital payment options. Wayl aims to fill that space.
Wayl Secures platform is designed specifically for social-media merchants and freelancers. These groups often lack access to secure, easy-to-use digital financial tools. By offering tailored payment services, Wayl helps sellers grow their businesses and reach more customers.
The company Wayl Secures founders say the funding will allow them to expand both their tech and reach. Their goal is to simplify payments and reduce cash use. In addition, they plan to improve security and speed for both buyers and sellers.
EQIQ Ventures sees Wayl as a game-changer in Iraq’s financial sector. Mohamed Al-Hakim praised the startup’s potential to shift how digital commerce works in the country. He added that empowering small sellers with financial tools also supports broader economic development.
Additionally, Digital payment platforms like Wayl are critical to Iraq’s financial modernization. As the digital economy grows, solutions that support small businesses will drive job creation and financial inclusion. Wayl’s focus on underserved markets aligns with national goals for fintech growth.
Moreover, Wayl Secures this funding round marks growing investor confidence in Iraq’s startup scene. New ventures are emerging in tech, finance, and logistics, signaling a shift toward innovation and digitization.
In summary, Wayl’s $150K boost sets the stage for wider adoption of digital payments in Iraq. If successful, it could reshape how Iraqis shop, sell, and earn online.Wayl got $150,000 to help online sellers in Iraq. It will grow its digital payment tools and help people stop using cash.