News

Saudi Astronauts Make History As They Lift Off Into Space

Saudi astronauts Rayyanah Barnawi and Ali AlQarni arrived at the International Space Station today at 19:45 UAE time.

Published

1 year ago

May 22, 2023

saudi astronauts make history as they lift off into space

Rayyanah Barnawi has made history by becoming the first female Arab astronaut to enter space after blasting off from Kennedy Space Center Launch Complex 39A with Arab teammate Ali AlQarni.

The pair were joined by astronaut Peggy Whitson, along with business pioneer and pilot John Shoffner on the sixteen-hour journey to the International Space Station (ISS). They were welcomed aboard in a ceremony at 19:45 UAE time today, Monday, May 22, 2023.

The astronauts became Saudi Arabia’s first citizens to leave earth in nearly 40 years, after Saudi Prince Sultan bin Salman became the first Arab to go to space in 1985.

Also Read: Take A Balloon Journey To Space, Complete With Fine Dining!

The pioneers will spend eight days on the ISS alongside fellow Arab Sultan Al Neyadi from the United Arab Emirates — aka the Sultan of Space — who is embarking on a longer six-month-long space mission.

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”.

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.