The National published an article on the entrepreneurial journey of Souqalmal CEO and Founder Ambareen Musa, where she talks about how Souqalmal has disrupted the world of Fintech, bringing huge transparency to the market.
She pitched the idea for Souqalmal at the ArabNet Beirut investment conference, and got some interest from venture capitalists and angel investors, in addition to her own equity commitment. Souqalmal raised its third slug of finance last year, in a US$3 million round with Hummingbird Ventures and a private investor.
Yes, I’d say we were disruptive. The first bank we approached with the idea said that it was illegal. We brought huge transparency to the market, and that was a good thing. The idea was always to do it in partnership with the banks, but it took them some time to get used to that idea. Now we’ve got content partnerships with the big banks,” she says.
For full article go to The National