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The UAE-based digital authentication startup Nice to Meet You (NTMY), has successfully raised $1M in its latest fundraising round. The seed round saw participation from its existing Saudi investors along with Pure Group.
Founded in 2018 by Mohamad Baydoun, the startup aims to help business owners minimize physical contact within premises. The company initially started off as a business card exchange process. The idea expanded as the company’s founders realized that there was a larger need in the market to fill.
We’ve been busy witnessing MENA-based IT Solutions startups and Enterprise Software solutions providers emerge with new technologies and acquire the growth capital needed to scale their operations. Over this year, MENA-based IT solutions startups observed a 580% YoY growth in Q3 2021, from raising only $30M by Q3 2020 to more than $200M by Q3 2021. As a testament to this, we’ve seen startups from MENAPT raising exceptional rounds. The KSA-based Unifonic, pioneering in cloud communications raised Saudi’s first Mega round this year, and most recently the Egypt-based startup Bexel raised a $560 Seed round as it supports inspection companies to digitize their entire inspection process, to increase efficiency and effectiveness.
Currently, NTMY provides its clients with a set of tools to use when authenticating employees, customers, and members. These include organizational IDs, access cards, membership cards, and insurance cards. And it makes digital authentication easy for its customers through three simple steps.
As, 7 out of 10 organizations plan to go digital with their employee IDs, access cards, and business cards, the startup aims to make these processes more convenient for everyone involved. The startup is eager to move forward with its goals, seek new partners and customers and, aims for Series A in the coming year. Mohamad Baydoun hailed the current funding as a milestone achieved, in a social post. Furthering its mission of empowering companies to achieve greater freedom by delivering identity solutions with control over security, Nice To Meet You would be using the current funds to hire new talent and enhance the technology and customer experience.
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