A Qatar-based accounting software startup that develops AI-powered financial tools for SMEs, HASIF, has secured an undisclosed funding from Snoonu through the Snoonu Startup Factory initiative. The initiative is aimed at supporting the next generation of entrepreneurs and empowering innovation in Qatar.
The funding followed the successful Startup Factory competition and showcase held last week in Qatar, where emerging startups presented solutions to issues pressing key businesses and market challenges.
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Established by Qatar University graduates Noof Alhbabi, Maryam Eisa, and Dana Alwadaani, HASIF builds smart digital software designed to automate accounting, invoicing, financial reporting, and compliance processes for small and medium-sized businesses.
According to the company, the platform combines automation and AI-powered features while matching businesses with accounting experts and aiding preparation for future VAT and digital compliance requirements across Qatar and the wider region.
This investment makes HASIF the second startup funded through the Snoonu Startup Factory programme, with an earlier investment in Sufra AI. This backs the company’s long-term strategy to support local innovation, invest in promising talent, and contribute to building Qatar’s entrepreneurial ecosystem and knowledge-based economy.
What Does Snoonu’s Intiative Mean for MENA SMEs in Foodtech?
The investment in HASIF is a major turnaround for many small and medium-sized foodtech companies in Qatar and the wider region, as global venture firms continue to back local startups.
The investment also indicates the need for smaller companies in foodtech to adopt automated finance processes and save time lost in resolving financial friction like processing accounting, invoicing, and digital compliance requirements.
For MENA SMEs in foodtech, this means the need to undergo time-consuming finance processes is getting slimmer, as the region shifts towards investing in local innovation and prioritising the growth of promising talents within the startup ecosystem.
