News

Google Cloud Announces New Regional Hub In Qatar

The initiative is expected to bolster the country’s economic output by $18.9 billion from 2023 to 2030 and will eventually generate an additional 25,000 jobs.

Published

1 year ago

May 24, 2023

Nour Nasir

google cloud announces new regional hub in qatar

Google Cloud is working with Qatar’s Ministry of Communications and Information Technology and the Qatar Free Zone Authority to establish a regional hub in the country’s capital, Doha.

The hub will be the company’s first in the GCC region. It will focus on the digital transformation of the company in Qatar and the wider Middle East, helping Google to develop its products and services.

The Doha hub was recently announced as part of Google Cloud’s global network of 37 regions and 112 zones. As a result of the expansion, Google Cloud services can now be used in over 200 countries and territories worldwide.

According to research by Google Cloud (conducted by Access Partnership), creating a new hub is anticipated to impact Qatar’s economy significantly. Between 2023 and 2030, the manufacturing facility will contribute approximately $18.9 billion to Qatar’s economic output and is also expected to create around 25,000 jobs by 2030.

Google says the new Doha regional hub will have three areas where users can submit apps and store them for better protection against attacks. The infrastructure will also include Google’s major cloud products, such as Computer Engine, Cloud Run, Cloud SQL, Google Kubernetes Engine, Spanner, and more. These products provide users with various tools and features to meet their cloud needs and support them with their digital processes.

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The official announcement was made at a launch event attended by Qatari cabinet officials and business leaders, highlighting the importance of Google’s regional expansion to local cloud infrastructure.

Minister of Communications and Information Technology Mohammed bin Ali Al Mannai welcomed the announcement, declaring that the new hub aligns with Qatar’s National Vision 2030, stating, “The new cloud region will contribute to giving impetus to economic and productivity growth, and will allow various government and private companies and institutions within Qatar the opportunity to achieve significant efficiency gains by adopting flexible features in dealing with digital technology”.

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

2 days 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”.

Also Read: A Guide To Digital Payment Methods In The Middle East

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.