FinTech news in MENA category

Following this growth, it is planning on expanding to Egypt and the UAE, while doubling down on Saudi Arabia, against the backdrop of $5 million pre-Series A funding it has raised, in a round led by Europe-based VC Speedinvest, which marked its debut into Saudi Arabia, and RAED Ventures, with participation from MENA focused VC firm Wamda Capital. His findings were not unique to him as a recent study showed an increasing dissatisfaction with HR tech providers — half of the respondents said they planned to change their systems for new technologies that offer better user experience and take remote working into consideration. For instance, in Saudi Arabia, palm.hr also has integrated with government services such as Mudad for digital payroll and compliance, mandated by the country ministry of labor; the General Organization for Social Insurance (GOSI), and Muqeem, the foreign employee’s data platform. Driven to bridge the gap, in 2019, Schrems (CEO) teamed up with Christoph Czichna (COO) and Dragan Nikolic (CPO), to launch Palm.hr, based out of Riyadh and whose clients include Hala, Thmanyah, the Saudi Venture Capital Company, Mozn, Jeeny, Rabbit.

Volopay, founded by Shaji and the startup’s chief technology officer Rajesh Raikwar, wants to disrupt traditional business banking and offer companies a control center for all their financial management needs without the hassle and limitation of a traditional bank.