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Saudi-based Glamera secures $350,000 investment to expand across the region

Saudi-based Glamera has raised a  $350,000 from Hope Ventures and Saudi investors Mr. Fahad AlRajhi, Chairman of Nabdh Investment, alongside super angel investor Dr. Khalid Altawil, who is also a partner in Select Ventures Dubai.

The investment was announced during the eighth episode of the entrepreneurship-themed reality television show and the region’s first private-public investment platform, Beban.

GFH Capital has partnered with Beban as the Saudi Country Partner. GFH Capital’s Chief Executive Officer, Mr. Razi Almerbati, commented on the occasion: “GFH Capital is committed to supporting the growth of entrepreneurship across the GCC. Partnering with Beban, we’re pleased to support the expansion of the program’s third season into the wider region through our support of startups based in the Kingdom of Saudi Arabia. Entrepreneurship is the engine of economic growth, and GFH Capital is dedicated to supporting initiatives that empower aspiring and innovative founders and business models that can play a role in economic development and diversification in line with the ambitions of governments across the GCC.”

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 Founded by Mohamed Hassan and Omar Fathy,Glamera is an all-in-one SaaS platform that powers and supplies lifestyle service providers.

On Beban, Hope Ventures is represented by H.E. Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, who also moderates the episode. Hope Ventures’ investment in Glamera reflects its commitment to investing in forward-thinking founders with innovative businesses that solve existing challenges and have plans to grow and expand on a regional level.

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As an investment firm, Hope Ventures invests in scalable businesses that are deeply rooted in their commitment to building value with forward-thinking founders who revolutionize their respective sectors.

The firm offers strategic capital to accelerate the growth of its portfolio companies into new markets through its vast resources of private and public partners as well as a regional network of industry-expert mentors.

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On his part, Mohamed Hassan, Co-Founder and CEO of Glamera, shared: “I am proud to have Beban as part of my entrepreneurial journey, and I am excited about making progress in transforming our industry through the support of our investor,‬ Hope Ventures, Mr. Fahad Alrajhi, and Dr. Khalid Altawil. The support we received through the show has been crucial to the success of our fundraising efforts. Through the Beban bootcamp, we were trained under industry experts who supported us in developing our business and ensured our readiness to pitch on the show. I would advise any entrepreneur to continue moving forward to apply for the next season.”

Beban TV show is the region’s first private-public investment platform through its partnerships with the Khalifa Fund for Enterprise Development (United Arab Emirates), the SME Development Authority (Sultanate of Oman), GFH Capital (Kingdom of Saudi Arabia), Zain Kuwait and the Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labor Fund Tamkeen (Kingdom of Bahrain).

Milcah Lukhanyu
Milcah Lukhanyu
I cover tech news across Africa. Drop me an email at [email protected]

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