News

Digital Tech Will Help Saudi Arabia Host 30 Million Pilgrims By 2030

For the last two decades, the Hajj pilgrimage has been typically attended by 2 to 3 millions of pilgrims.

Published

2 years ago

July 15, 2022

digital tech will help saudi arabia host 30 million pilgrims by 2030

This year’s Hajj pilgrimage was open to 1 million pilgrims from Saudi Arabia. By 2030, Saudi Arabia would like to host as many as 30 million pilgrims. To make this ambitious goal possible, the Kingdom is betting on digital technology.

One tech initiative that was launched by the Saudi Ministry of Hajj and Umrah earlier this year is Hajj Smart ID, a smart ID card with barcodes containing pilgrim’s personal information and documentation. The card frees pilgrims from having to carry official documents, and it also helps guide pilgrims to their residences, among other things.

Last year, Saudi Data and Artificial Intelligence Authority (SDAIA) and Doyof Al Rahman Program (DARP) launched the Pilgrim’s Smart Bracelet (NUSK) project. The bracelet is intended to help organizers track pilgrim’s health information and vaccination records.

Tech initiatives like Hajj Smart ID and the smart bracelet project are guided by the Pilgrim Experience Program, a core component of Saudi Vision 2030. The program strives to give as many Muslims as possible the opportunity to perform Hajj and Umrah to the fullest extent while working on enhancing their experience.

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“These technological solutions can help attract more Muslims to the two holy mosques, ultimately achieving the Kingdom’s goals in the Saudi Vision 2030 to welcome millions of pilgrims and help them with high-quality services and enrich their experience in the kingdom,” said Amr Al-Madah, Deputy Minister of Hajj and Umrah.

For the last two decades, the Hajj pilgrimage has been typically attended by 2 to 3 millions of pilgrims. The last three years were exceptions caused by the COVID-19 pandemic, with the year 2020 seeing a record low attendance of just 1,000 pilgrims. It will be interesting to see how this new digital technology will be able to effectively handle almost 30x the amount of pilgrims by the end of the decade.

News

Paymob Extends Series B Funding To $72M Amid Continued Growth

The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.

Published

23 hours ago

September 12, 2024

Nour Nasir

paymob extends series b funding to $72 million amid continued growth

Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.

The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.

This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.

Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.

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The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.

Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.