News

Kanye West Plans 100,000-Acre City In The Middle East

The development is reportedly in the early planning stages and is said to be twice the size of New York City.

Published

7 months ago

December 22, 2023

Nour Nasir

kanye west plans 100,000-acre city in the middle east

Banyan Tree Group

Kanye West is making headlines once again, this time with an audacious plan to create a self-sustaining city in the Middle East that will be twice the size of New York City. The project, named DROAM, is said to be 100,000 acres in size and was revealed by the controversial celebrity on X, formerly known as Twitter.

Kanye West is reportedly currently planning to ‘build a city’ in the Middle East. pic.twitter.com/DXrBdqPHd9

— Daily Loud (@DailyLoud) December 21, 2023

West took to the social media platform to reveal his grand plans for DROAM and explained that he was seeking collaborators, including engineers, architects, project managers, and builders. However, alongside the star’s grand announcement, reports also surfaced about West’s Los Angeles church, acquired for $1.5 million back in March, now in a neglected state and with boarded-up windows.

Also Read: Saudi Arabia Unveils World’s First Gaming And eSport District

Adding to the strange saga, Kanye West has also listed his Malibu home for sale due to financial difficulties. Meanwhile, as excitement builds with fans over the DROAM unveiling, many have doubts the star’s plans will ever come to fruition.

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.