News
AKcess Brings Its Blockchain-Based Digital ID Solution To Kuwait
Designed to make both paper and online forms obsolete, AKcess uses nothing but a smartphone app to collect and validate KYC data.
Companies in the financial sector, as well as governments and enterprises, spend a lot of time, effort, and money verifying the identities of their customers. That’s because the so-called Know Your Customer (KYC) process often relies on outdated technology and inefficient manual processes. AKcess would like to revolutionize the KYC process using its secure digital ID solution for private and commercial use.
The solution takes advantage of blockchain technology (the same technology that powers and secures cryptocurrencies such as Bitcoin), using it to immutably store collected user data.
Designed to make both paper and online forms obsolete, AKcess uses nothing but a smartphone app to collect and validate KYC data. The submitted information can then be verified in a number of different ways, such as by taking a selfie or using a third-party verifier. When a user approaches an institution that collects KYC information, he or she can simply share it via AKcess, making onboarding effortless.
“KYC is a major challenge for all financially regulated and unregulated companies, but the bigger challenge is to update the KYC after initial onboarding of a client,” said Nehme AbouZeid, Founding member and Chief Technology Officer of Akcess, in an interview with Entrepreneur Magazine. “Using a combination of our mobile app and our blockchain network, we were able to find a solution acceptable to all parties, the regulator and the institutions.”
Also Read: New Digital ID Verification Solution Available To Turkish Fintech Apps
The blockchain-based digital ID solution could be a boon to banks, small and medium enterprises (SMEs), government organizations, educational institutions, healthcare providers, insurance companies, and more. In other words, its impact could be significant.
AKcess has recently opened offices in Kuwait, and the company also has projects underway in several other countries in the Middle East including Egypt, UAE, and Qatar.
News
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
The e-commerce startup is aiming to tap into the Kingdom’s underdeveloped e-grocery sector with a tech-first, locally rooted strategy.
Rabbit, an Egyptian-born hyperlocal e-commerce startup, is expanding into the Saudi Arabian market, setting its sights on delivering 20 million items across major cities by 2026.
The company, founded in 2021, is already operational in the Kingdom, with its regional headquarters now open in Riyadh and an established network of strategically located fulfillment centers — commonly known as “dark stores” — across the capital.
The timing is strategic: Saudi Arabia’s online grocery transactions currently sit at 1.3%, notably behind the UAE (5.3%) and the United States (4.8%). With the Kingdom’s food and grocery market estimated at $60 billion, even a modest increase in online adoption could create a multi-billion-dollar opportunity.
Rabbit also sees a clear alignment between its business goals and Saudi Arabia’s Vision 2030, which aims to boost retail sector innovation, support small and medium-sized enterprises, attract foreign investment, and develop a robust digital economy.
The company’s e-commerce model is based on speed and efficiency. Delivery of anything from groceries and snacks to cosmetics and household staples is promised in 20 minutes or less, facilitated by a tightly optimized logistics system — a crucial component in a sector where profit margins and delivery expectations are razor-thin.
Despite the challenges, Rabbit has already found its stride in Egypt. In just over three years, the app has been used by 1.4 million customers to deliver more than 40 million items. Revenue has surged, growing more than eightfold in the past two years alone.
Also Read: Top E-Commerce Websites In The Middle East In 2025
CEO and Co-Founder Ahmad Yousry commented: “We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households, and delivering the best products – especially local favorites, in just 20 minutes”.
The company’s growth strategy avoids the pitfalls of over-reliance on aggressive discounting. Instead, Rabbit leans on operational efficiency, customer retention, and smart scaling. The approach is paying off, having already attracted major investment from the likes of Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, alongside earlier investors such as Global Founders Capital, Goodwater Capital, and Hub71.
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
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