Glamera, a software as a service company with origins in Egypt and a base in Saudi Arabia, has received preliminary funding for $1.3 million, led by the Riyadh Angels Investors (RAI)
The round also included Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures,” and Super Angel Investors.
Businesses that offer beauty and lifestyle services, like hair salons, gyms, spas, and make-up artists, can use the B2B services on the All-In-One platform.
In addition, it provides a B2B2C marketplace in which clients may search for such service providers and make appointments with them.
Glamera was established in 2020 by Mohamed Hassan and Omar Fathy. Since its inception, the company has expanded its operations to encompass the cities of Cairo and Alexandria in Egypt, as well as Riyadh, Jeddah, Dammam, Taif, Qassim, Madina, and Tabuk in Saudi Arabia.
So far, it has made it possible to move goods worth a total of $45 million. It has also led to consistent revenue growth and customer growth. According to founder and CEO Mohamed Hassan, the market requirement has been adequately verified.
He finished by saying that we can now confidently try to be market leaders with our fully integrated solutions and participate in the Saudi Digital Transformation 2030 agenda. We hope to have more than 2,500 clients and $500 million in GMV by the end of 2023.
Omar Fathy, the company’s founder and chief technology officer (CTO), said, “The money will be used to keep building and to launch the planned new services and to grow into other gulf regions.”
The company’s founding members hoped the announcement would bring renewed attention to a sector of the economy that, despite its massive size and vast potential, had seen relatively little development over the years.