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Egyptian beauty start-up Glamera closes $1.3m seed round
A SaaS start-up that originated in Egypt and relocated to Saudi Arabia, Glamera, has raised seed funding of $1.3 million in a round that was led by Riyadh Angels Investors (RAI).
The round witnessed participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley’s Lucrative Ventures, and Super Angel Investors.
The all-in-one platform provides B2B services to beauty and lifestyle services providers such as beauty salons, barber shops, gyms, spas, and makeup artists. It also provides a B2B2C marketplace where consumers find such providers and book sessions with them.
Founded in 2020 by Mohamed Hassan and Omar Fathy, Glamera grew to cover Riyadh, Jeddah, Dammam, Tayef, Qassim, Madina and Tabuk in Saudi Arabia as well as Cairo and Alexandria in Egypt. To date, it facilitated a gross merchandise value of $45 million and achieved continuous growth in revenue and client acquisition.
“We have successfully validated the market need,” said Mohamed Hassan, founder and chief executive.
“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 more than 2 500 clients and achieve $500 million gross merchandise value by the end of 2023.”
Omar Fathy, founder and chief technology officer, added: “The fund will be used to continue developing and launching the planned new services and expand to more gulf markets.”
The founding team expressed how they hope that such news shed lighter on a long-forgotten industry that saw little development over the years although its enormous size and huge opportunity.
