Egyptian-born SaaS Startup, Glamera Receives $1.3M Seed to Scale and Expand in the GCC Markets
Glamera, an Egyptian-born SaaS startup, has received $1.3 million in Riyadh Angels Investors (RAI)-led Seed Round with participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures” and Super Angel Investors, to continue developing and launching planned new services and expanding into additional GCC markets.
Beauty and lifestyle service providers such as beauty salons, barber shops, gyms, spas, and makeup artists benefit from the All-In-One platform’s B2B services. It also offers a B2B2C marketplace where consumers can find and book sessions with such providers.
Glamera which has relocated to Saudi Arabia and covers Riyadh, Jeddah, Dammam, Taif, Qassim, Madina, Tabuk, Cairo and Alexandria in Egypt, was founded in 2020 by Mohamed Hassan and Omar Fathy. It has so far facilitated a gross merchandise value of $45 million and has seen consistent growth in revenue and client acquisition.
Commenting on the seed round, Mohamed Hassan, Founder, and CEO of Glamera said “We have successfully validated the market need and now we can confidently work towards leading the market with our fully integrated solutions and play part in the Saudi digital transformation vision 2030. We aim to work with 2500+ clients and achieve $500M GMV by the end of 2023.”
Omar Fathy, co-founder, and CTO of Glamera explained how the startup intends to utilize the funds. “The fund will be used to continue developing and launching the planned new services and expands to more gulf markets.”
The founders went on to express their hope that such news – funding for a SaaS startup – would shed light on a long-forgotten industry that has seen little development despite its enormous size and enormous opportunity.