News

Lebanon’s Beirut Digital District (BDD) Partners With Zoho

The collaboration will help entrepreneurs and startups in the BDD community during uncertain economic times, offering full access to Zoho’s comprehensive suite of cloud applications.

Published

2 years ago

December 14, 2022

Nour Nasir

lebanon's beirut digital district bdd partners with zoho

Leading cloud software provider Zoho has announced that it will be teaming up with Beirut Digital District (BDD), a unique digital and creative community hub in Lebanon, to support local entrepreneurship during a time of increased economic disruption.

For those unaware of the current situation in Lebanon, an unprecedented series of events has led to a collapse of the local banking system and a rapid devaluation of the national currency, leaving the nation in a state of turmoil. Despite the bleak outlook, Beirut Digital District has remained a beacon of hope for startups and entrepreneurs, and continued to champion innovation and winning growth strategies.

As part of the collaboration, BDD network member businesses will gain access to Zoho’s complete suite of digital solutions, including accounting, marketing, communication, and other productivity software, using a complementary digital wallet loaded with up to $1,000 of credit.

“We are thrilled to kick off this partnership with BDD […] helping them improve efficiency, reduce costs and quickly adapt to changing market needs. Through this partnership, we aim to digitally empower Lebanon’s businesses with our latest, scalable, and cost-effective solutions, as well as serve the community by sharing our expertise,” says Ali Shabdar, Regional Director, MEA at Zoho.

Also Read: The UAE Has Launched A Program To Assist 100 Startups

So what are the benefits of the Zoho collaboration for Beirut Digital District members? First and foremost, Zoho’s cloud platform offers a comprehensive suite of services, allowing businesses to run their entire operation from a central interface, with seamless integration and without multiple vendor contracts and compatibility hassles. User experience is a high priority for Zoho, along with a privacy-centric approach and a welcome lack of advertising.

If you’re a Lebanese reader keen to learn more about eligibility for the Zoho deal, the company has built a registration page containing further information and a form for businesses to submit their applications.

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”.

Also Read: Zoho Expands Qatar Operations & Releases New Survey Data

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.