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 º£½ÇÖ±²¥, 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 º£½ÇÖ±²¥,†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 º£½ÇÖ±²¥, 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.
º£½ÇÖ±²¥â€™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 º£½ÇÖ±²¥ to 525 by 2030 from the current 147.
