https://arab.news/jsngf
RIYADH: Customers of beauty and wellness technology firm Glamera can now avail of its services through a cashless platform licensed by Saudi Payments.
The newly acquired fintech license paves the way for the launch of Glamera Pay, a service that offers secure payment options.
Glamera is a mobile application that enables salons and wellness businesses to digitize their operations.
“Glamera Pay will empower us to unlock new opportunities and expand our reach, cater to a wider customer base in Saudi Arabia, and also open up for strategic partnerships as expanding our presence in the Saudi market has always been a strategic priority for Glamera,” said Glamera CEO Mohamed Hassan in a statement.
Founded in 2020, Glamera has grown substantially within a short period, serving over 2,000 customers across seven countries.
“Glamera Pay is a significant leap forward in our journey. The fintech license enables Glamera to expand its presence and provide cutting-edge payment solutions to our valued customers in Saudi Arabia,” said Omar Fathy, the company’s chief technology officer.
“With this milestone, we are excited to leverage our technology expertise to revolutionize the beauty and wellness industry in Saudi Arabia, creating a more convenient and delightful experience for our users,” Fathy added.
The firm successfully closed a seed funding round in September 2022, attracting investments from Techstars, RAI, 100 Ventures, Lucrative Ventures, Oqal, and a select group of angel investors.
The latest license acquisition highlights the company’s sustained momentum and strategic focus on leveraging fintech to elevate the customer experience.
The company’s pursuit of becoming a player in the Kingdom’s fintech sector aligns with the initiatives set forth by the government to boost the financial industry.
Saudi Arabia’s financial sector development strategy, launched in 2022, aims to position the Kingdom as a regional fintech hub.
The Kingdom aims to push the number of fintech companies operating in Saudi Arabia to 525 by 2030 from the current 147.