News

Dubai-Based Startup Alfii Raises $2.5 Million In Seed Funding

The significant investment will be used to build new engineering solutions for the company’s FinTech-powered human resource automation platform.

Published

10 months ago

July 6, 2023

Nour Nasir

Alfii

After launching in November 2022, Dubai-based startup Alfii has raised $2.5 million in pre-seed funding as the company seeks to expand its team and develop its product offering.

Alfii is a cloud-based HR automation platform where users can set up a company profile, invite employees, and begin managing documents, employee data, payroll, and more.

The latest funding round was overseen by US-based venture capital company Preface Ventures, as well as Dubai-based Aditum Ventures, Kayan Ventures, and Wayfinders.

“With Alfii’s all-in-one software suite, companies will be able to better understand and manage their human capital resources while improving the user experience for employees with features like digital-to-cash remittances, benefits selection,” says Farooq Abbasi, general partner of Preface Ventures.

With funding now secured, Alfii plans to build a suite of payroll features to provide users with “smarter, faster ways to manage payroll and salary disbursements, drastically simplifying a process that is typically tedious and time-consuming for HR owners,” the company explained.

Also Read: Saudi Arabia’s NOMU Secures $5 Million For Expansion Plans

“We are looking to build the next generation of this product class, and we are building it entirely in-house – which means we need to bring on world-class talent to grow our business and better serve our customers,” added Yousef Albarqawi, Alfii co-founder and chief executive.

The tech startup plans to gradually introduce a whole suite of new features for HR processes, including onboarding, time-tracking, and leave management. Eventually, the Alfii platform will cover the entire employee life cycle.

Since its launch, more than 250 businesses have signed up to Alfii in the MENA region. Customers are currently spread across countries, including Egypt and Saudi Arabia, with the UAE comprising the bulk of the customer base.

News

NEOM Announces Breathtaking Luxury Waterfront Development

The residential community will offer a wealth of living, dining, and entertainment options, along with a stunning marina and international school.

Published

4 days ago

May 10, 2024

Nour Nasir

NEOM

The board of Saudi Arabia’s special economic zone, NEOM, has revealed plans for a new development named Jaumur. The project will see the creation of a “cosmopolitan luxury community” nestled on the coast of the Gulf of Aqaba.

According to a recent press release, the luxury residential community will “serve the highest standards of future livability and active lifestyle [offering] a unique blend of experiences on both land and sea, complementing NEOM’s evolving regional development in northwest Saudi Arabia”.

Jaumur will include 500 apartments and 700 luxury villas clustered around a marina that will become home to 6,000 lucky residents. The location will offer private moorings and easy waterfront access, along with a selection of upscale hotels with a combined capacity of 350 suites.

neom jaumur project

The marina itself is a dramatic focal point of the development, featuring a colossal 1.5km covered mooring area in the shape of an aerofoil. The cantilevered structure not only forms a breathtaking landmark but will also be able to shelter the world’s largest superyachts.

The marina promenade promises to be a lively, vibrant area featuring a host of entertainment, leisure, and cultural experiences, along with upscale retail stores and world-class restaurants.

Also Read: Dubai Gives Go Ahead For $35 Billion Al Maktoum Airport Expansion

Although Jaumur is very much a place for sophisticated living and relaxation, the development will also incorporate a “state-of-the-art deep-sea research center and top-tier international boarding school”. Planners hope to attract world-leading oceanographic researchers as well as elite students to this unique location.

We’ll leave the final words about this exciting development to NEOM’s press department: “Jaumur’s unique architectural design integrates water where golden sands meet the deep blue of the Gulf of Aqaba. It is a luxury destination to visit, explore, live, and prosper: an opportunity to become part of a dynamic community”.