Dubai: To mark the occasion of Emirati Women’s Day, UAE-based fintech company Mamo has announced a special initiative to support female entrepreneurs across the UAE. Mamo will waive the first six months of subscription fees for female-owned businesses that sign up for its financial services platform during August and September 2024, according to the company’s press release.
This initiative aims to assist female entrepreneurs in a rapidly growing segment. According to the Dubai Chamber of Commerce, female-led businesses account for 10% of the UAE’s private sector. Notably, the UAE boasts the highest number of women on Forbes’ 2023 list of the 100 Most Powerful Arab Businesswomen and the second highest in 2024, with 14 Emirati women featured.
Mamo’s offer includes a six-month free period on its Ultra Plan, designed to alleviate financial pressures on female entrepreneurs. The plan features the lowest payment processing fees in the UAE, unlimited issuance of Mamo Visa corporate cards, low FX fees, a built-in expense management tool, and priority onboarding. Additionally, there are no set-up costs, and the platform offers simple plug-and-play integrations. This initiative allows female-led businesses to manage cash flow more efficiently, enabling them to focus on scaling their ventures. Eligible businesses can avail themselves of this offer using the promo code EWD24.
Based on the press release, Mamo’s platform is specifically designed to meet the needs of SMEs by offering integrated services such as payment collection, corporate cards, and expense management. With over 3,000 companies in the UAE utilizing its services, Mamo has established itself as an essential resource for small and medium-sized enterprises.
“Mamo’s mission has always been to empower businesses by providing them with the tools they need to succeed, and this initiative is a testament to our commitment to supporting female founders in the UAE,” said Imad Gharazeddine, co-founder and CEO of Mamo. “We believe that by making our platform more accessible, we can enable female entrepreneurs to overcome financial barriers and thrive in their industries.”
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