News

Oracle Opens A New Cloud Region In Abu Dhabi

Oracle aims to operate a network of at least 44 cloud regions globally by the end of 2022.

Published

3 years ago

November 13, 2021

David Morelo

oracle opens a new cloud region in abu dhabi

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The demand for cloud computing has surged massively in the Middle East since the outbreak of the pandemic, and companies like Oracle are happy to meet it.

Earlier this week, the Texas-based company announced the opening of its second cloud region in the United Arab Emirates, providing local businesses with global, secure, and high-performance environments that they can use to support their workloads.

The new cloud region is located in Abu Dhabi, and, together with the older Dubai region, it supports the UAE’s Fourth Industrial Revolution Strategy.

“With the Dubai and Abu Dhabi Regions, we have the required cloud infrastructure for organizations across public and private sectors, including SMBs, to accelerate their digital transformation,” said Oracle’s executive vice president of Technology for the EMEA region, Richard Smith.

According to Oracle, the main benefits of the Abu Dhabi Region for local businesses include easier data compliance, reduced costs, enhanced performance, superior resiliency, higher availability, improved customer experiences, and more. Because the region is built on Oracle Cloud Infrastructure (OCI), new customers should be able to migrate existing workloads with ease.

Also Read: UAE Central Bank Establishes Cybersecurity Operations Center

Oracle is a major player in the Middle East, and its clients include everyone from Abu Dhabi Customs to Emaar Properties to Mashreq Bank. Jae Sook Evans, Oracle’s chief information officer, said that the Middle East is a priority region for the company.

Oracle aims to operate a network of at least 44 cloud regions globally by the end of 2022. Currently, it has 34 cloud regions globally, with new regions also set to open in Europe, Asia, and Latin America. Its largest competitors in the Middle East include IBM, Amazon Web Services, SAP, and Alibaba Cloud.

The cloud market in the Middle East is forecasted to reach over $8.79 Billion by 2022, up from $2.17 Billion in 2016.

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

21 hours 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.