The Finance World Magazine| Edition: March 2023

PayTabs
Abdulaziz Fahad Al Jouf,
Founder and CEO
PayTabs is a financial technology
company established in 2014
in the United Arab Emirates.
It offers payment solutions
and has branches in the UAE, Saudi
Arabia, and Egypt. It has processed
transactions worth more than US$4B
in both 2021 and 2022.
PayTabs utilizes API plugins to make
online, mobile, and social commerce
transactions easier for merchants and
super merchants. Additionally, it offers
a “plug and play” payment feature for
users to integrate into their websites,
which includes payment options like QR
codes, digital invoicing, and payment
links for social media.
PayTabs was one of the first companies
in the “fintech” space to offer seamless
B2B ecommerce solutions specifically for
SMEs, establishing itself as a pioneering
home-grown business. With financial
support from private Saudi investors,
PayTabs developed and exported a
complete suite of groundbreaking mobile
applications, including solutions for the
hospitality, government, education, airline,
travel, transport, and billing industries,
which allowed for interconnection
between the multi-billion-dollar enterprise
market chain in the MENA region.
By introducing PayTabs SwitchOn, a
fully integrated, real-time, and turnkey
platform, PayTabs has solidified its
position as a dominant player in the
global end-to-end payment solutions
market.
MUNCH:ON
In 2015, Dana Baki launched
MUNCH:ON, a food delivery app.
Initially known as LUNCH:ON,
the startup has since expanded
into a platform that operates in the
UAE and Saudi Arabia. MUNCH:ON
has transformed the food delivery
landscape in the region, providing
customers with high-quality food
and exceptional service. Baki’s
background as a senior manager at
P&G, combined with her education at
Georgetown University’s McDonough
School of Business, has undoubtedly
contributed to her success as an
entrepreneur. Her vision and leadership
have resulted in MUNCH:ON raising
$15M in investments from multiple
sources, including Wamda Capital,
Global Ventures, and B&Y Ventures,
to name a few. With more than 400
restaurants on the platform and
deliveries to over 500 offices across
the UAE, MUNCH:ON has contributed
to the transformation of the food
delivery industry in the region. The
investments raised also signal a belief
in the platform’s potential to continue
growing and transforming the food
delivery landscape. The company was
acquired by Careem in 2022 to expand
its food offering on the Super App.
Dana Baki,
Founder
FODEL
Soumia Benturquia,
Founder and CEO
Soumia Benturquia is the founder
and CEO of FODEL, a parcel pickup
provider for online shoppers.
Founded in 2015, FODEL has
quickly become a prominent player
in the e-commerce logistics space,
providing customers with a seamless
and efficient delivery experience. With
branches across the UAE, Saudi Arabia,
Kuwait, Bahrain, and Oman and a team
of over 50 employees, the company has
established itself as a leading parcel
pick-up provider in the region.
One of the key factors contributing
to FODEL’s success is its partnerships
with major players in the industry, such
as Amazon and Landmark. In 2021, the
company announced a new partnership
with DHL, expanding its network
from over 200 active locations to over
2,500 locations in MENA. Benturquia’s
entrepreneurial spirit and drive have
been instrumental in the company’s
growth and success. She has not only
secured over $8M in funding for FODEL
but also has been recognized for her
achievements as a Forbes Middle East 30
under 30 honouree. As the e-commerce
market continues to expand rapidly
in the Middle East, companies like
FODEL will continue to play a crucial
role in meeting the evolving demands
of consumers.
March 2023 www.thefinanceworld.com 37