InvoiceQ, a Jordan-headquartered SaaS company specializing in e-invoicing and integration solutions, has successfully secured $1.2 million in a pre-Series A funding round. The round included participation from Oasis 500, Orange VC, Flat6Labs, Natej Soft, and multiple angel investors, reflecting strong confidence in InvoiceQ’s business model and growth potential.
Empowering Digital Invoicing in MENA
Founded in 2020 by Muhannad Tobal (CEO), Fadi Al-Jabali (CTO), Amer Ayyad (COO), and Mohammad Baseet (General Manager), InvoiceQ has emerged as a leader in modern e-invoicing solutions across Jordan and Saudi Arabia. The company focuses on simplifying digital invoicing processes to align with local tax regulations and drive business efficiency.
With over 50 million invoices issued to date, representing a total invoice value of $6 billion, InvoiceQ’s platform offers tailored solutions that automate invoice management, reduce manual errors, and provide real-time reconciliation and reporting.
Strategic GCC Expansion
The newly raised capital will support InvoiceQ’s geographic expansion, particularly into Oman, Egypt, UAE, and the wider GCC markets, where demand for e-invoicing solutions is growing exponentially. The company’s advanced solutions enable businesses to comply with country-specific tax regulations, enhancing operational efficiency while integrating seamlessly with global payment systems.
Muhannad Tobal, Co-founder and CEO, highlighted the growth opportunity, stating:
“We have issued over 50 million invoices to date, saving our clients significant time and resources. This investment will empower us to expand our client base and drive growth in Saudi Arabia and the MENA region, where the demand for digital invoicing solutions is rapidly increasing.”
Advanced Payment Integration
The InvoiceQ platform supports leading payment gateways like:
- SADAD (KSA’s digital payments platform)
- eFAWATEERcom (Jordan’s online bill payment platform)
- Visa and Mastercard, provide businesses with versatile payment collection options and efficient reconciliation processes.
This versatility allows companies to enhance cash flow management and improve payment collection efficiency in real time.
Compliance and Recognition
InvoiceQ’s solutions have earned formal recognition from:
- ZATCA (Zakat, Tax, and Customs Authority) in Saudi Arabia
- ISTD (Income and Sales Tax Department) in Jordan
By adhering to regional tax regulations, InvoiceQ enables seamless integration with existing systems and offers customizable solutions that align with each business’s needs.
Milestones and Vision
Since its inception, InvoiceQ has:
- Issued over 50 million invoices
- Achieved $6 billion in total invoice value
- Gained 250+ clients across industries
InvoiceQ aims to simplify e-invoicing for businesses of all sizes, offering solutions that prioritize simplicity, speed, and real-time updates. Tobal emphasized the company’s commitment:
“Our vision is to deliver customer-centric, user-friendly technology that empowers businesses to manage invoices electronically with minimum effort and maximum efficiency. This investment unlocks new opportunities for companies to adopt the e-invoicing revolution with cutting-edge solutions.”
The Road Ahead
With its customer-focused approach and strong backing from regional investors, InvoiceQ is well-positioned to scale its solutions across MENA, paving the way for digital transformation in the e-invoicing industry.
