UAE’s BILRS Raises Pre-Seed Round

UAE’s emerging fintech player, BILRS, has secured a pre-seed investment from venture capital firm Haatch, although the exact amount remains undisclosed. Founded in 2022 by Rupert Shaw, BILRS has quickly positioned itself as a reliable facilitator, empowering both online and offline merchants to extend bill payment services to their customers. Notably, the company claims to have customers across a portfolio of over 30 countries, showcasing the firm’s vast reach in a short span.

“We are incredibly excited about the future of BILRS and the opportunity this partnership with Haatch represents. This investment will empower us to enhance our platform’s capabilities, better serve our customers, and continue our mission of enabling purposeful remittance,” Shaw said. “We are grateful for the confidence that Haatch has shown in our vision, and we look forward to the remarkable progress we will achieve together,” he added.

The recent funding is expected to provide BILRS with the requisite fuel to expedite its ambitious mission of introducing greater transparency and accountability into the world of money remittances. The move aligns with the broader industry trend of leveraging fintech solutions to simplify and streamline complex financial transactions for the end-users.