QIIB Takes Strategic Stake in Qatari Payment Provider SkipCash

Qatar International Islamic Bank (QIIB) has acquired a strategic stake in SkipCash, injecting undisclosed capital into the Doha-based payment startup following its QAR 1 billion transaction milestone in 2025.

Founded in 2019 by Mohammed Abdulaziz AlDelaimi, SkipCash provides digital payment technology to businesses. The company currently serves more than 10,000 merchants across Qatar, operating under regulatory licenses from the Qatar Financial Centre and the Qatar Central Bank.

Rather than building consumer-facing applications, SkipCash focuses strictly on merchant services. The company supplies businesses with online payment gateways, merchant acquiring, QR payments, payment links, and Tap-to-Phone (SoftPOS) technology. This commercial focus allows local merchants to modernize their transaction management and accept digital payments.

The QIIB deal supplements a $4 million Series A round closed earlier this year. Qatar Development Bank, Qatar Islamic Insurance Company, KBN Holding Group, Finjan Venture Investments, and Doha Tech Angels participated in that equity raise.

SkipCash will direct the new capital toward expanding its merchant network and entering additional markets across the Gulf Cooperation Council (GCC). The startup also plans to develop new products to simplify payment acceptance for small and medium-sized businesses.

This corporate investment highlights a shift in the regional financial sector. Traditional Islamic banks are increasingly taking stakes in domestic technology companies to modernize merchant services and digitize the broader Qatari commercial market.