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Mitgo Launches MENA Publisher Investments Program

The finance service will provide $50,000 to $500,000 to help regional companies grow.

Published

1 year ago

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mitgo launches mena publisher investments program

Global tech company Mitgo has launched a new Publisher Investments Program, an alternative financing service that will provide investment opportunities for projects in the MENA market. Initial capital for the fund is $20 million, with the program’s scope expanding as applications are received.

Mitgo’s service will be aimed primarily at the FinTech, smart shopping, generative AI, MarTech, and HRTech sectors. The program will help publishers solve financing gaps and cash flow issues that stand in the way of expansion.

Applicants for funding must earn (or plan to earn) more than 50% of their revenue from cost-per-lead, cost-per-click, cost-per-sale, and other performance-based methods. They also need to be working with Mitgo businesses Admitad and Takeads or with another affiliate network. Companies that do not meet these criteria may still be eligible for funding if they can demonstrate a readiness to earn using the listed advertising models.

Successful candidates will be eligible for $50,000 to $500,000 in funds. In addition, companies will also gain access to the complete Mitgo ecosystem, along with a dedicated strategic manager.

The MENA region will be a key focus for the Publisher Investment scheme, with Mitgo expecting at least 10% of all investments to be made in local projects.

“Their success is our success, which is why we’ll not only provide financial support but also allocate time and resources into mentoring and coaching, as well as giving access to an extensive network of digital advertising contacts,” said Alexander Bachmann, Mitgo CEO & Founder.

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

Mitgo has a successful history in investing, having already closed over 30 deals, including FairSavings ($500K+) and LetyShops ($3M+).

Since the announcement of its Publisher Investments program in June, Mitgo has received 100+ applications and continues actively inviting MENA publishers to submit proposals.

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UAE Prepares To Launch Two Satellites: Thuraya-2 And MBZ-SAT

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired the first meeting of the Supreme Space Council yesterday.

Published

5 days ago

on

December 17, 2024

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uae prepares to launch two satellites thuraya-2 and mbz-sat

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, chaired the first meeting of the Supreme Space Council in Dubai on December 16, 2024. The session highlighted the UAE’s ambitious space plans and took stock of the sector’s economic progress.

The council emphasized the growing role of private companies in advancing space technologies, noting that their contributions are now equal to that of the public sector. Members also praised initiatives like the Space Economic Zones Programme, which are designed to fuel innovation and investment in the space industry.

Discussing the UAE’s space journey, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum remarked, “The national space sector continues to grow and advance, and we take immense pride in the remarkable achievements we have accomplished over the years”.

Sheikh Hamdan also received updates on two upcoming satellite projects: Thuraya-2 and MBZ-SAT. Thuraya-2, developed by Space42, is slated for launch this December. Meanwhile, the MBZ-SAT, created by the Mohammed Bin Rashid Space Centre (MBRSC), will soon follow. MBRSC, a major driver of the UAE National Space Programme, continues to lead the nation’s space-related developments.

Space42 took the opportunity to showcase its advancements, including ongoing collaborations between public and private entities. The company also outlined strategies to promote innovation, boost revenue streams, and create new opportunities for growth in the sector.

Also Read: IBM Opens New Doha Office To Support Qatar’s Digital Growth

The UAE’s current projects build on a growing legacy of space exploration. Back in 2020, the nation made headlines with its Mars mission, successfully sending a probe into the planet’s orbit in 2021. This mission, which is now in its second phase as of June 2024, has been collecting critical data to develop a comprehensive diurnal image of Mars.

The UAE also ventured into lunar exploration with an unmanned mission aimed at studying untouched regions of the Moon’s surface. While the probe ultimately crashed during its landing attempt after communication was lost seconds before touchdown, the effort represented a significant step in the country’s exploration ambitions.

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