News

GSMA M360 Connectivity Event Returns To Riyadh

Taking place 5-6 December at Fairmont Riyadh, the event will feature keynotes and forums with global and regional industry leaders, experts, and innovators.

Published

8 months ago

November 22, 2023

Nour Nasir

GSMA

GSMA is returning to Saudi Arabia with its M360 event. Along with host sponsor stc and Gold Sponsor Salam, the expo will offer the ideal platform to explore strategies and form collaborations in one of the world’s most dynamic and rapidly growing digital capitals.

Taking place 5-6 December at Fairmont Riyadh, the agenda will feature “global and regional industry leaders, innovators, and experts” in a series of forums and keynotes. Noteworthy names include Ahmed Alsohaily (Red Sea Global), Dr. Bocar A. Ba (SAMENA Telecommunications Council), Håkan Cervell (stc), Hatem Dowindar (e&), Sheikh Nasser Bin Hamad Bin Nasser Al Thani (Ooredoo), Dr. Maher Shira (Royal Commission for Riyadh City), and more.

Also Read: NEOM Announces Luxury Tourism Destination Epicon

Attendees will hear discussions and presentations on key industry topics at the forefront of technological change, including network transformation, 5G, cybersecurity, AI, IoT, and edge computing.

For more information, please visit the GSMA website.

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”.

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.