Qatar-based PayLater, recognized as one of the first companies to obtain a buy now, pay later (BNPL) license from the Qatar Central Bank (QCB), has successfully secured a strategic investment from the UAE-based fintech investor, LuLu Alternative Investments (LuLu AI). This investment, the amount of which has not been disclosed, marks LuLu AI’s first foray into Qatar’s financial sector and aligns with its broader goal of expanding financial services in emerging markets.

Co-founded by Mohammed Al-Delaimi and Khalifa Saleh Al Haroon in 2023, PayLater specializes in providing flexible and interest-free installment payment solutions that cater specifically to the local market. Al-Delaimi, who serves as the CEO of PayLater, emphasized the significance of this investment, stating that it validates PayLater’s business model and accelerates their mission of transforming responsible consumer finance in Qatar. He added that their immediate focus will be on enhancing market penetration and operational scale in Qatar, where there is a growing demand for ethical and flexible financial tools.

Al-Delaimi noted that LuLu AI is bringing not just capital, but also extensive regional fintech infrastructure, which could be transformative for PayLater’s growth. He explained that their partnership opens opportunities for collaborations within LuLu’s ecosystem, including merchant partnerships and co-development of embedded finance solutions. Furthermore, Al-Delaimi highlighted a shared ambition with LuLu AI to enhance security, compliance, and customer experience in the digital payments sector.

As consumer preferences evolve, PayLater is actively monitoring usage trends to adjust its offerings. Al-Delaimi reported that they are observing high engagement and repeat usage from consumers across various income levels in Qatar, indicating a growing acceptance of BNPL as a budgeting tool. This trend is influencing their plans to introduce more personalized payment options, improved tools for merchants, and deeper integration of services at checkout, both online and in physical stores.

Looking forward, PayLater is preparing for a rapidly changing financial ecosystem. Al-Delaimi identified three significant trends that are shaping their strategy: regulatory tightening, the emergence of contextual finance, where payments are integrated into non-financial applications, and the increasing demand for ethical, Sharia-compliant financial products. He assured that PayLater is proactively aligning with regulatory standards while investing in application program interface (API) infrastructure to enhance their offerings, ensuring they resonate with both users and merchants.