Founders: Nasser Saleh
The Middle East’s 50 Most-Funded Startups
Rank: #35
MadfooatCom
Country: Jordan
Funding: $7.8 million
Investors: Etihad Bank, Capital Bank, Cairo Amman Bank, APIC
Founded In: 2013
Online, real-time bill presentment and payment system
MadfooatCom connects banks with billers to facilitate bill payments and inquiries through electronic channels on a 24/7 basis. In 2014, MadfooatCom established eFAWATEERcom in partnership with the Central Bank of Jordan. eFAWATEERcom is integrated with 92% of banks in Jordan, allowing customers to use banks’ electronic channels to pay over 250 types of bills electronically. It has processed over 18 million invoices, valued at $15 billion. Founder Nasser Saleh was previously the CIO of Jordan’s second fiscal reform program.