News

Nokia Has Just Revealed Its New Logo

“In most people’s minds, we are still a successful mobile phone brand, but this is not what Nokia is about.”

Published

2 years ago

February 27, 2023

Nour Nasir

Nokia

It’s hard to believe that Nokia — the famous Finnish phone manufacturer — has been in the electronics industry since the early 1960s. Even more Amazingly, the company has managed to cling to its iconic logo for over four decades.

Now, for the first time in nearly 45 years, the once mighty smartphone corporation will change its branding. Last Sunday, before the Mobile World Congress Barcelona opening day, the company revealed a new corporate identity. Out goes the iconic blue typeface, and in its place, a sleek, modern replacement.

“We are updating our strategy, and, as a key enabler, we are also refreshing our brand to reflect who we are today: a business-to-business technology innovation leader pioneering the future where networks meet cloud […] In most people’s minds, we are still a successful mobile phone brand, but this is not what Nokia is about,” says Pekka Lundmark, Nokia CEO.

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The company’s phones haven’t been made by the “real Nokia” since Microsoft’s massive $7 billion takeover back in 2014. After the tech giant parted company with Nokia in 2016, former Nokia executives acquired the rights to use the brand for smartphones and tablets. There’s no word yet as to whether future phones will continue to sport the classic logo or not, but many nostalgic tech enthusiasts would surely be disappointed to see the blue font disappear.

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

21 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”.

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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.