# Wafeq وافِق

> Wafeq is a cloud accounting and e-invoicing platform built for small and medium businesses across Saudi Arabia and the UAE. Founded in 2019 by Nadim Alameddine, it gives SMEs and accounting firms ZATCA- and FTA-compliant invoicing, VAT and corporate tax reporting, payroll, inventory, and 40+ financial reports in one Arabic-and-English interface. The platform processes roughly 2 million invoices worth about $400 million every month and serves more than 10,000 customers, with the vast majority of activity in Saudi Arabia.

- **Founded:** 2019
- **Headquarters:** Riyadh, Saudi Arabia
- **Founders:** Nadim Alameddine (CEO & Founder)
- **Team size:** ~72 employees
- **Products:** Wafeq Accounting, E-Invoicing (ZATCA / FTA), VAT & Corporate Tax, Payroll, Inventory & Fixed Assets
- **Notable:** Grew to 10,000+ customers in under 2.5 years, Processing ~2 million invoices worth ~$400 million monthly, ZATCA-approved e-invoicing in Saudi Arabia and FTA-compliant in the UAE

## Products & services

- **Wafeq Accounting** — Cloud accounting platform covering invoicing, quotes, purchase orders, bank reconciliation, sub-accounts, and 40+ financial reports.
- **E-Invoicing (ZATCA / FTA)** — Government-compliant e-invoicing for Saudi Arabia (ZATCA) and the UAE (FTA), generated directly inside the platform.
- **VAT & Corporate Tax** — Automated VAT return generation and corporate tax filing formatted for Saudi and UAE regulations.
- **Payroll** — Payroll processing, employee expense claims, and reimbursements.
- **Inventory & Fixed Assets** — Inventory tracking, fixed-asset management, and depreciation.
- **Bank & App Integrations** — Bank feeds (Saudi Awwal Bank, Al Rajhi Bank, HSBC, Wio) and integrations with Stripe, Foodics, and Salla.

## Achievements

- Grew to 10,000+ customers in under 2.5 years
- Processing ~2 million invoices worth ~$400 million monthly
- ZATCA-approved e-invoicing in Saudi Arabia and FTA-compliant in the UAE
- Raised $7.5M Series A in December 2024 led by 9900 Capital
- Attracted Gary Turner, former CEO of Xero's EMEA operations, as an angel investor

## Latest updates

- **2024-12** — Closed $7.5M Series A led by London-based 9900 Capital with angel Gary Turner and existing investors Raed Ventures and Wamda Capital.
- **2023-01** — Raised $3M seed round led by Raed Ventures with participation from Wamda Capital.

## Links

- Website: https://wafeq.com
- LinkedIn: http://www.linkedin.com/company/wafeqofficial
- Twitter/X: https://twitter.com/wafeqofficial/
- Facebook: https://www.facebook.com/WafeqOfficial/

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Profile page: https://yespress.io/wafeq
Published by YesPress — https://yespress.io
Last updated: 2026-07-24