News

Mitgo’s New Gaming Network Has The MENA Region In Its Sights

The technique introduces nearly invisible “perturbations” to throw off algorithmic models.

Published

1 year ago

July 25, 2023

Nour Nasir

Mitgo

Global IT company Mitgo has launched Mitgame, a specialized network for games and online gaming services. Mitgame was formed by creating a separate company from the online gaming segment of the Admitad network, which is also a Mitgo-owned company.

Over the last 12 months, revenue across the Admitad network grew by over 50%. After this period of rapid growth, it was decided to launch Mitgame as a separate entity with a special focus on the online gaming market.

Mitgame will target client, browser, and console games, and the newly-formed network already has more than 200,000 publishers, 100+ game brands, and over 500,000 active players. Current partnerships include Epic Games, Perfect World, Plarium, MY.GAMES, Wargaming, Gaijin, Nexters, Innogames, and Upjers. The company also has a solid track record of cooperating with industry leaders like PlayStation, Xbox, and Riot Games.

The MENA region will be a key market for Mitgame. In the first half of 2023, MENA player acquisitions and purchases increased by 64%, and over the next 12 months, the network plans to have built partnerships with up to 80 MENA gaming brands and 5,000 publishers.

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“Mitgame has evolved into a very gaming-focused business. Being part of Mitgo will allow Mitgame to benefit from all the services and partner networking opportunities the company offers. This is part of our core strategy to broaden and diversify the business into successful, global market segments,” said Alexander Bachmann, CEO and Founder of Mitgo.

Mitgo also has plans to invest over $9 million into the ongoing development of Mitgame before 2025, which should help establish the network as a global market leader.

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”.

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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.