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Pyypl Growth To Accelerate After $20 Million Investment

The Abu Dhabi-based financial platform continues to go from strength to strength, with sights set on a huge regional expansion.

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pyypl growth to accelerate after $20 million investment

Pyypl (pronounced “people”), the Middle East and Africa-focused financial services platform, has just secured $20 million in Series B funding from international investors, as well as ten of its existing backers.

Since being founded in 2017, the Hub71 member has raised nearly $40 million in investment capital. This recent financing round will help the platform increase its reach even deeper into the MEA region.

As the company develops what’s known as “Pyypl 2.0”, new features and proprietary technology will also be built to enhance user experience and help scale in new markets and business verticals. Pyypl is led by a skilled management team with a proven track record and is now one of the fastest-growing fintech companies in the region, quadrupling its user base and transaction volumes in just 12 months.

Pyypl has established key partnerships since its foundation, and now boasts a mature and expansive financial ecosystem that includes Visa, several payment gateway partners, Ripple, and Binance. Based in Hub71, Abu Dhabi’s global tech ecosystem, Pyypl also gains access to a wide-ranging network of partners and benefits from a strong local talent base.

Also Read: Paymob Announces New UAE Regional Hub

The combination of proprietary technology, an experienced management team, and a unique multi-product approach is paying dividends for the startup, which seems to have been founded at the exact right time to benefit from the region’s growing tech landscape. The ecosystem boasts “internationally accepted virtual and physical prepaid cards, instant domestic and international user-to-user transfers as well as remittances to 38 currency destinations”, with plenty of additional features being added to the roadmap.

“We welcome our new investors and appreciate the further investment from our existing shareholders to support our financial inclusion journey. We have grown significantly since our Series A round and are excited to enter the next phase of growth and capability. This is just the beginning,” says Antti Arponen, co-founder and CEO at Pyypl.

Pyypl’s platform offers key financial services via a single app, and could benefit up to 800 million financially underserved smartphone users across Africa and the Middle East.

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Lebanese Newspaper Builds AI President To Beat Political Crisis

The move by media outlet AnNahar comes after 13 failed attempts by the Lebanese parliament to elect a new leader.

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lebanese newspaper builds ai president to beat political crisis
OurPresident.ai

In a world first, Lebanon’s AnNahar Newspaper has built an artificial intelligence model designed to carry out presidential duties for the politically troubled country. Lebanon has been without a sitting president for two years after thirteen failed attempts by the nation’s parliament to elect a suitable candidate.

The new AI President’s deep learning algorithm was fed over 90 years of impartial journalism from AnNahar’s archive stretching back to the 1930s. The AI leader analyzes not only historical data but also current events and is able to formulate solutions for all manner of political, legal, and governmental questions. By tapping into such a vast knowledge base, Lebanon’s AI President will have a deep understanding of the country’s past, as well as an unbiased take on the challenges the nation faces going forward.

lebanon our president ai platform annahar

The new AI President was unveiled in a recent live broadcast. Nayla Tueni, editor-in-chief of AnNahar Newspaper conducted an interview with the digital leader, asking relevant questions about the current state of Lebanon, and how to fix the country’s difficult political situation. AnNahar has also converted its print newspaper to focus entirely on the new president’s guidance on issues spanning everything from the economy to sustainability and the environment.

Also Read: Abu Dhabi To Develop $1 Billion eSports Island Facility

After the interview, Nayla Tueni commented: “As Lebanese people, and especially at AnNahar, we refuse to sit back and allow things to go on as they have. To not have a president for this long is unacceptable and has impacted the country negatively. If the parliament will not do its job to elect a president, then the people will bring to Lebanon a president”.

The AI President will soon be accessible to everyone at OurPresident.ai, Users will be able to ask questions in a similar manner to the likes of ChatGPT and Google Gemini. It is also understood that government officials will also use the tool to help devise new directives.

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