Dubai: PayTabs, a payment processing firm incorporated in Saudi Arabia, announced it has raised $20 million (Dh73 million) to support its products and a global expansion plan that extends across 20 markets over two years.

The investment will support PayTabs’ expansion in the Middle East and North Africa, Southeast Asia, India, and other countries within Africa and Europe. PayTabs will also invest in new product developments such as digital payments.

In a statement, PayTabs said it will “engage in key strategic acquisitions to further expand” its portfolio of products and services.