The Egyptian-born, Saudi Arabia-based SaaS business Glamera has secured $1.3 million in seed funding led by the Riyadh Angels Investors (RAI).
Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures,” and Super Angel Investors also participated in the round.
The All-In-One platform offers B2B services to businesses that offer beauty and lifestyle services, including hair salons, gyms, spas, and makeup artists. Additionally, it offers a B2B2C marketplace where customers may look for and schedule appointments with such providers.
Mohamed Hassan and Omar Fathy founded Glamera in 2020, and since then it has expanded to include Cairo and Alexandria in Egypt as well as Riyadh, Jeddah, Dammam, Tayef, Qassim, Madina, and Tabuk in Saudi Arabia. It has so far enabled the movement of goods with a gross value of $45 million while achieving consistent revenue growth and customer expansion.
The market requirement has been satisfactorily proven, according to founder and CEO Mohamed Hassan. And now we can confidently strive toward being market leaders with our fully integrated solutions and participate in the Saudi digital transformation 2030 agenda, he concluded. By the end of 2023, we hope to have 2500+ clients and $500M in GMV.
Omar Fathy, the founder, and CTO continued, “The fund will be used to continue developing and launching the planned new services and expand to other gulf regions.
The founding team expressed their hope that such news would shed light on a long-forgotten industry that, despite its tremendous size and enormous possibilities, had not seen much progress over the years.
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Mazaya, an Egyptian B2B e-commerce platform, secures a $5 million pre-seed round of funding