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

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

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Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.