Wafii raises Seed round to launch crypto Cashback platform
- Jordan-based rewards platform Wafii, has raised an undisclosed amount for its Seed round, led by GMS Ventures & Investments and angel investors.
- Founded in 2019 by Nassib Barakat, Wafii is a loyalty and payments platform where users can earn loyalty points from its network of merchants.
- The new funding will enable Wafii to launch a crypto cashback platform in the UAE, where users can earn at least 1 per cent Bitcoin back on transactions.
Jordanian rewards platform Wafii has raised a seed round, led by GMS Ventures & Investments and Angel Investors, to launch the first crypto cashback platform in Mena, starting with the UAE.
Launched in 2019 in Jordan, Wafii enables users to earn meaningful rewards at a large network of merchants.
Wafii is now live in the UAE where it provides its users with the easiest way to accumulate cryptocurrencies, starting with Bitcoin. Users simply have to create an account, link their card and shop as they would usually do, while earning at least 1% Bitcoin back on transactions.
Users can earn even more Bitcoin (Up to 20%) when shopping at partner brands such as Ounass, Level Shoes, H&M, 6th Street and more.
“Many people are curious about Bitcoin and want to invest in it, however, doing so is not very straightforward. Therefore, we are creating the easiest way for people to earn rewards for their day-to-day purchases while investing in Bitcoin”, Nassib Barakat, co-founder and CEO of Wafii.
Wafii also works with businesses to help them attract and retain customers by offering cashback rewards through its platform.