Glamera, the startup which was founded in Egypt in 2010, has successfully completed a seed round of funding totaling $1.3 million.
The round was led by Riyadh Angels Investors (RAI), and it included participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures,” and Super Angel Investors.
In the year 2020, Mohamed Hassan and Omar Fathy laid the groundwork for what would become Glamera, a company that provides services on a business-to-business level to providers of beauty and leisure services.
It also gives users access to a business-to-consumer marketplace where they can look for the service providers listed above and make appointments with them.
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It has relocated to Saudi Arabia, where it now serves Riyadh, Jeddah, Dammam, Taif, Qassim, Madina, and Tabuk, in addition to Cairo and Alexandria in Egypt. Additionally, it still serves Tabuk. In addition to that, the remainder of Egypt is included in its scope.
To this day, it has maintained a steady increase in both its income and the number of customers it has gained. It has also helped to keep up a gross merchandise value of $45 million.
What are they saying?
The company’s founder and present chief executive officer, Mohamed Hassan, said that “We have successfully demonstrated the market necessity.” After that, he continued by adding, “And now we can confidently aim towards dominating the market with our fully integrated solutions and playing a part in the Saudi digital transformation vision 2030.” We aspire to have worked with over 2,500 customers and created a gross merchandise volume of $500 million by the time the year 2023 comes to a close.
Omar Fathy, the company’s founder and chief technology officer, says that the money will be used to keep building and launching the planned new services and to grow into other Gulf areas.
The founding team shared how they have high hopes that such news will shed light on a long-forgotten sector that has seen very little growth over the years, despite the fact that it is enormous in size and has a significant possibility. They believe that such news will throw light on a sector that has seen very little growth over the years because it has been long forgotten.