Foloosi, a UAE-based financial technology (fintech) startup has raised an undisclosed amount of pre-seed funding from angel fund investor Rashed Alfalasi.

The startup aims to facilitate consumer-to-business card payments through enabling businesses to display QR code and share payment links and API integrations that make it possible to accept card payments without the need for a point of sale machine.

“With the support of our strategic investors, we are accelerating the development of our products further in this digital world and this is a great opportunity to improve in the advanced technology experienced by our users,” said Omar Bin Brek, chief executive officer at Foloosi.

"I invested in Foloosi because I believe the future will be cashless and that Foloosi is one of the companies that will emerge to lead this effort because of its great team and their strong vision. With dedication and the right strategy, Foloosi can build the cashless society and will provide payment solutions that serve all kinds of businesses,” said Rashed Alfalasi.