Jordan’s POSRocket raises $650,000 from Jabbar Internet Group, Propeller Inc & Arzan VC

POSRocket, an Amman-based startup that sells cloud-based point-of-sale solutions to small and medium-sized businesses has raised $650,000 as seed-investment from Samih Toukan’s Jabbar Internet Group, Kuwait-based Arzan VC, Jordan-based accelerator Propeller Inc. and two angel investors. It’s the first ever external investment raised by the startup.

Founded by Zeid Husban last year, POSRocket’s cloud-based point-of-sale platform equips merchants with customizable interface that helps them run their businesses in a smart way. The platform that is currently available in Jordan & Egypt offers different reports, which can help the business owners optimize their operations and regulate the inventory.

POSROcket also sells hardware for its platform which includes iPads, iPad Holders, Cash Registers & Receipt Printers. The startup already has more than 140 small and medium-sized businesses from different categories including restaurants, boutique shops, coffee shops, bakeries, accessories stores, salons, spas and dry cleaners as its clients in Jordan, Egypt, UAE, KSA & Palestine. With this investment, the startup now wants to expand its presence in Gulf.

“We are very excited to welcome all the investors onboard. Being able to raise a substantial investment almost within a year of launching our operations says a lot about the product we’ve built. The early-traction has also helped us a lot in raising this round.” Zeid Husban, Founder & CEO of POSRocket who likes to call himself Chief Astronaut Officer, told MENAbytes.

POSRocket currently has a team of 20 employees working from its two offices in Amman & Cairo. But they plan to hire more people as they’re eying Gulf expansion by 2018.

“We are going to use this investment to hire more talent esp. in product and sales team and we are expanding into Gulf next year.” said Zeid.

Zeid has previously founded and successfully exited a food delivery startup in Jordan which was eventually acquired by Delivery Hero. He has recently become a part of Endeavor Jordan, an entrepreneurial organization that supports high-impact entrepreneurs across emerging economies.

Earlier this week, a Saudi point-of-Sale startup that sells its solutions mainly to restaurants, has raised $4 million from Saudi VCs & 500 Startups. Looks like cash registers across this region are going to get modernized way sooner than we thought.