Doha, Qatar – Shorooq, a leading multi-strategy investment firm focused on venture capital, credit, and alternative investments, has signed a Memorandum of Understanding (MOU) with PayLater, Qatar’s first QCB-licensed, Sharia-compliant Buy Now Pay Later (BNPL) provider, to explore structuring a scalable, institutional-grade credit facility to support PayLater’s next stage of growth.

PayLater has established itself as a category pioneer in Qatar, operating under the regulatory oversight of the Qatar Central Bank (QCB) and offering fully Sharia-compliant BNPL products tailored to local market needs. Over the past few years, the company has demonstrated strong execution, disciplined underwriting, and growing merchant and consumer adoption—positioning it as a natural candidate for large-scale, structured credit solutions.

For Shorooq, the MOU underscores the firm’s continued leadership in the credit space and its ability to design bespoke financing structures for high-growth, regulated platforms. The potential transaction would align with Shorooq’s broader strategy of supporting fintech and technology-enabled businesses with non-dilutive capital that accelerates growth while preserving founder ownership.

Mahmoud Adi, Founding Partner at Shorooq, said: “This MOU reflects our conviction that the next phase of fintech growth in the region will be driven by disciplined, well-regulated platforms that can absorb institutional capital at scale. PayLater has built a strong foundation as Qatar’s first QCB-licensed, Sharia-compliant BNPL provider, and we see significant potential in working together to structure a credit solution that supports sustainable growth while setting a new benchmark for the market.”

Dr. Devid Jegerson, Chief Executive Officer of PayLater, added: “Shorooq is a strong validation of the progress PayLater has made since inception. As we scale our platform, access to sophisticated, Sharia-compliant credit structures is critical to serving our customers and merchant partners responsibly. We look forward to exploring a partnership that supports our long-term vision and reinforces Qatar’s position as a leading fintech hub.”

The discussions come at a time of increasing regional focus on Sharia-compliant digital finance and the development of institutional funding infrastructure to support regulated fintech platforms.

About Shorooq

Founded in 2017, Shorooq is a multi-strategy investment firm engineered around technology. Our strategies span venture capital, credit, private equity, and real assets—each guided by a tech native lens that informs how we identify innovation, underwrite risk, and drive value. This integrated approach allows us to invest across the capital stack in businesses reshaping their sectors, from fintech and software to AI, industrials, and infrastructure.

Rooted in a founder-centric principle and disciplined underwriting, Shorooq blends global investment standards with true on-the-ground presence across the MENA and Asia. We are building an institution designed to endure, born in a region where the future of capital is being written.

Visit us at www.shorooq.com

Shorooq refers to a group of companies that are affiliates of each other and which operate under this business name, of which Shorooq Partners Ltd (regulated by the ADGM Financial Services Regulatory Authority FSRA FSP: 190004 as a category 3C Fund Manager) is a member.

Media Contacts:
Tarek Fouad
Chief Marketing Officer, Shorooq
Shorooq Group Press: press@shorooq.com
Direct: tfouad@shorooq.com