Mohamed Ramzy

Since its launch in the Egyptian market a few years ago, Klivvr has focused on building an integrated financial platform that combines payments, consumer financing, and rewards within a single application. Having surpassed EGP 1.2 billion in shareholder investments, the company is now gearing up for a new growth phase centered on investing more in technology and AI and expanding its innovative financing solutions.

In a short period, Klivvr has successfully built a financing portfolio worth EGP 1.5 billion, while expanding its network to include more than 700,000 users and over 1,000 partners and merchants. The company plans to invest an additional $10 million over the next two years to expand its customer base, financing portfolio, and partner network.

In an exclusive interview with Sharikat Mubasher, Nils Bachtler, Co-Founder and CEO of Klivvr, discussed the company’s strategy for the upcoming period, its investment plans, and its vision for the future of AI in the financial sector, as well as its growth and expansion targets within and beyond Egypt.

Klivvr was launched with a capital of EGP 100 million, with plans to reach EGP 500 million. Where does the company currently stand on these targets? And do you plan to increase capital over the next period to support growth and expansion plans?

We already achieved this target, as total shareholder investments in Klivvr have surpassed EGP 1.2 billion ($25 million), a milestone that reflects investors’ confidence in our business model and growth plans.

We plan to invest an additional $10 million over the next two years to continue developing the platform, enhancing the technological infrastructure, and launching new services.

How will Klivvr secure these new investments and how will it deploy them?

We will secure these investments from existing shareholders, not through new funding rounds or from additional investors.

From day one, Klivvr has bet on technology as the primary engine of its growth, and we still believe that investing in technology is the fastest way to build a more intelligent financial platform. Therefore, we will dedicate the largest share of the investment to developing digital infrastructure and AI, alongside launching more advanced products that enhance user experience.

Klivvr obtained final approvals to launch consumer financing activity in the Egyptian market. How do you assess the performance of this activity since its launch, and what level of demand have you witnessed so far?

We obtained the consumer financing license in April 2025 and officially launched the service in June 2025. Within a short period, the financing portfolio reached nearly EGP 1.5 billion, reflecting growing demand for our services.

Our focus is not limited to increasing financing volume alone; we are also working on diversifying financing products to meet the needs of different customer segments. Among the products we are currently developing are automotive financing solutions, as well as high-value financing programs that meet customers’ significant needs through flexible, convenient plans.

Today, Klivvr’s network includes more than 1,000 partners and merchants, spanning payment networks, financing partners, and merchants. This offers customers broader options to benefit from Klivvr’s services across the Egyptian market.

Klivvr launched ‘K·ai’ as the first AI-powered assistant in fintech applications in Egypt. How do you expect this product to transform customer experience?

From the outset, we noticed that a large segment of customers faces difficulty in understanding financial products or comparing different offers, which can lead to making decisions that do not align with their needs or capabilities. Hence, we designed ‘K.ai’ to be a personal AI-powered financial assistant that responds to users’ inquiries, explains financial products in a simple way, compares different financing options, and clarifies fees and requirements, thereby helping them make more informed financial decisions.

Within a short period of launching the service, we noticed a clear reduction in the pressure on customer service centers, as customers are now able to access all information they need directly through the application.

We also believe that AI will completely transform the future of financial services; thus, we will continue to invest in developing this technology and adding more features that make the user experience more intelligent and personalized.

With over 700,000 users and a remarkable growth in financing portfolio and activity since launch, what are Klivvr’s targets for the next two years? 

We do not measure growth solely by the number of customers, but rather by our ability to build an integrated financial ecosystem that delivers real value to the user. Accordingly, over the next two years, we aim to double our customer base, expand the financing portfolio and partner network, and launch new services.

Achieving these targets will depend on continuing to invest in technology and AI, strengthening the digital infrastructure, developing new financing solutions, and expanding the partner network. This will enable us to reach larger customer segments and enhance the daily usage of Klivvr’s platform.

What are Klivvr’s regional expansion plans for the upcoming years, notably in key markets, such as Saudi Arabia and the UAE?

With regard to geographic expansion, the Egyptian market remains our top priority, given the significant growth opportunities it offers; however, we expect regional expansion to begin after 2028.

We have not yet decided on a model for entering foreign markets. This can be through strategic partnerships, acquisitions, or launching new operations. The most suitable model will be decided based on the nature of each market and the opportunities available at the time of implementation.

Translated by: Noha Gad

Ghada Ismail

Every startup dreams of growing fast, but growth doesn't happen just because you launch a great product. No matter how innovative your app, e-commerce store, or SaaS platform is, people need to know it exists.

Today, it's easier than ever to launch digital ads on platforms like Google, Meta, TikTok, and LinkedIn let anyone create a campaign in just a few minutes, in addition to traditional channels, like TV, Radio, and Email Campaigns. But running ads is one thing, while running ads that consistently bring in customers is another.

Many startups learn this the hard way. They spend thousands on campaigns that reach the wrong audience, use messaging that doesn't resonate, or fail to generate meaningful results. That's why hiring a media buyer isn't simply another marketing expense. It can be one of the smartest investments an early-stage business makes.

A Media Buyer Is More Than Someone Who Buys Ads

Despite the name, media buyers do much more than purchase advertising space.

They build advertising strategies that match your business goals, choose the right platforms, manage budgets, test different creative materials, monitor campaign performance, and make ongoing improvements based on real data.

Their job is to make sure your marketing budget delivers the best possible return. Instead of chasing clicks, they focus on attracting the people who are most likely to become customers.

They Help You Avoid Costly Mistakes

For most startups, marketing budgets are tight, so every riyal needs to count.

Without experience, it's easy to overspend on the wrong audience, overlook important performance metrics, or keep investing in campaigns that simply aren't working. These mistakes can quickly eat into valuable capital.

A skilled media buyer knows what to look for and can spot problems before they become expensive. Often, the money they save through better campaign management outweighs the cost of hiring them.

They Reach the Right People

Modern advertising platforms offer powerful targeting tools, but knowing how to use them effectively takes experience. A media buyer understands how to reach the people who are most likely to be interested in your product based on their interests, online behavior, demographics, or purchasing intent.

The result is usually better-quality leads, higher conversion rates, and a lower cost to acquire each customer.

They Let Data Guide Every Decision

Every campaign generates valuable insights, from conversion rates and customer acquisition costs to return on ad spend. A media buyer knows how to interpret this data and turn it into smarter decisions.

Instead of asking whether people clicked on an ad, they're asking bigger questions: Which audience is converting best? Which message is driving sales? Which platform deserves a larger share of the budget?

By constantly testing and refining campaigns, they help improve results over time.

They Give Founders More Time

Startup founders already have enough on their plates. Between building products, managing teams, talking to investors, and serving customers, there's little time left to master digital advertising.

Hiring a media buyer means founders can focus on growing the business while someone with the right expertise handles campaign performance and optimization.

Growth Becomes Easier to Scale

As your startup grows, your advertising needs become more complex.

An experienced media buyer knows how to increase budgets strategically, test new audiences, and expand into new markets without letting customer acquisition costs spiral out of control. That makes growth more predictable and sustainable.

Choosing the Right Media Buyer

Not every media buyer is the right fit for every startup. Look for someone who understands your industry, has experience working with businesses at a similar stage, and is transparent about how they measure success.

The best media buyers don't just share reports filled with numbers; they should be willing to explain what those numbers mean and how they're helping your business grow.

To Wrap Things Up…

Advertising is one of the fastest ways for startups to reach new customers, but it can also become one of the fastest ways to waste money if it's not managed properly.

A good media buyer helps you make smarter decisions, spend your budget more effectively, and attract customers who are genuinely interested in your product. In a crowded digital marketplace, that expertise can make the difference between campaigns that simply generate clicks and campaigns that drive real business growth.

Ghada Ismail

Every business needs funding, but not all funding serves the same purpose. The money that helps launch a company is often very different from the money that fuels its growth later on. For entrepreneurs, understanding the distinction is crucial, as the type of capital they choose can affect ownership, financial flexibility, and long-term sustainability.

Two of the most common funding sources are initial capital and debt capital. While both provide businesses with the resources they need to operate and grow, they play different roles at different stages of a company's journey.

What Is Initial Capital?

Initial capital is the money used to start a business. It covers early expenses such as product development, licensing, equipment, office space, marketing, and initial hiring.

This funding often comes from founders' personal savings, family and friends, angel investors, or seed-stage investors. Its primary purpose is to give a business enough runway to launch, attract customers, and begin generating revenue.

Without sufficient initial capital, even strong business ideas can struggle to move beyond the planning phase.

What Is Debt Capital?

Debt capital is money borrowed by a business and repaid over time, usually with interest. Common sources include bank loans, credit facilities, government-backed financing programs, and private lenders.

Unlike equity-based funding, debt capital allows business owners to raise money without giving up ownership. Companies often use it to expand operations, purchase equipment, increase inventory, or strengthen cash flow.

The trade-off is that debt creates a financial obligation that requires repayment regardless of business performance.

Key Differences

The biggest difference between the two is timing. Initial capital is typically used during the launch stage, while debt capital is often accessed once a business has established operations and can demonstrate its ability to repay lenders.

Ownership is another major distinction. Initial capital may come from investors who receive equity in return for their funding. Debt capital does not dilute ownership because lenders are entitled to repayment, not a stake in the company.

Risk is also distributed differently. Investors who provide initial capital share in both the potential upside and downside of the business. Lenders, however, expect repayment regardless of whether the company succeeds or struggles.

Why Initial Capital is important?

Initial capital gives entrepreneurs the resources needed to build a foundation. It allows them to develop products, test business models, and attract customers before revenue becomes consistent.

It also provides greater flexibility during the early stages, when uncertainty is highest and businesses may need time to refine their strategy. A strong initial funding base can further improve credibility with future investors, lenders, and partners.

The Benefits of Debt Capital

For established businesses, debt capital can be an effective growth tool. Its biggest advantage is that founders retain full ownership and control of their company.

Debt financing can also provide access to larger amounts of funding without diluting equity. For businesses with predictable cash flow, borrowing can accelerate expansion and help seize opportunities that might otherwise take years to finance internally.

Which One Is Right for Your Business?

The answer depends largely on the company's stage of development.

Startups typically rely on initial capital because they need funding before generating reliable revenue. Taking on significant debt too early can create unnecessary pressure and financial risk.

More mature businesses, on the other hand, are often better positioned to benefit from debt capital. With established revenue streams, they can use borrowed funds to expand while maintaining ownership control.

In reality, many successful companies use both. Initial capital helps them get off the ground, while debt capital supports growth once the business is stable.

To Wrap Things Up…

Initial capital and debt capital serve different purposes, but both are essential tools in the financing journey of a business. Initial capital provides the foundation needed to launch, while debt capital can help scale operations and unlock new opportunities. Understanding when to use each can help entrepreneurs make smarter financial decisions and build businesses that are positioned for long-term success.

Ghada Ismail

When most people think about borrowing money, financing a business, or securing an investment, they think of banks. Yet an increasing share of financial activity today takes place outside the traditional banking system.

Private credit funds, fintech lenders, money market funds, and other non-bank institutions are playing a growing role in moving capital across the economy. Together, these players make up what is known as the shadow banking system.

The term may sound mysterious, but shadow banking is neither hidden nor necessarily risky by nature. It simply refers to financial institutions that perform many of the functions of banks without operating as licensed commercial banks.

What Is Shadow Banking?

In simple terms, shadow banking describes organizations that provide financing and credit without accepting customer deposits like traditional banks.

These institutions help businesses and individuals access capital through a variety of channels. Common examples include:

• Private credit funds
• Money market funds
• Hedge funds
• Finance companies
• Fintech lending platforms
• Peer-to-peer lending networks

While their structures differ, they all serve a similar purpose: connecting capital with those who need it.

Why Is Shadow Banking Growing?

The expansion of shadow banking is being driven by a combination of market demand, regulatory dynamics, and technological innovation.

Today, businesses are seeking faster and more flexible financing options, while investors continue to look for returns beyond those offered by traditional savings and investment products. At the same time, digital platforms and fintech solutions have made it easier to connect borrowers with alternative sources of capital.

Several factors continue to support the growth of non-bank finance:

• Businesses need more diverse funding channels. 
• Investors are searching for higher-yield opportunities. 
• Fintech platforms are streamlining access to credit and investment products. 

Startups and SMEs often require financing solutions that fall outside conventional lending models. 

Institutional investors are allocating more capital to private credit and alternative assets. 

As these trends continue, shadow banking is becoming an increasingly important source of funding and liquidity within the broader financial ecosystem.

The Advantages of Shadow Banking

Supporters argue that shadow banking makes financial markets more flexible and efficient.

For businesses, especially startups and growing companies, alternative lenders can often provide faster access to capital than traditional banks. In some cases, they are also willing to finance businesses that may not fit a bank's standard risk profile.

Some of the key benefits include:

• Greater access to funding
• Faster financing decisions
• More competition in financial services
• Increased support for innovation and entrepreneurship

In many markets, shadow banking complements traditional banking rather than replacing it.

Risks and Regulatory Concerns

While shadow banking expands access to capital and financial services, it also presents a unique set of risks.

Because many non-bank financial institutions operate under different regulatory frameworks than traditional banks, their risk profiles can vary significantly. In some segments, oversight may be lighter, while certain business models may be more exposed to market fluctuations or funding pressures.

Key concerns associated with shadow banking include:

• Liquidity pressures during periods of market uncertainty 
• Greater sensitivity to asset price and market volatility 
• Regulatory gaps across different jurisdictions and sectors 
• Interconnected financial relationships that can amplify risks across markets 

As the sector continues to grow, regulators and market participants are increasingly focused on improving transparency, risk management, and oversight to ensure that innovation and financial stability develop in parallel.

The Fintech Factor

The rise of fintech has added a new chapter to the shadow banking story.

Digital lenders, Buy Now Pay Later providers, and alternative financing platforms are transforming how people access credit. While many operate within regulatory frameworks, they also highlight a broader trend: financial services are no longer the exclusive domain of traditional banks.

As technology continues to reshape finance, the line between banks and non-bank institutions is becoming increasingly blurred.

Wrapping Things Up…

Shadow banking has become a major force in modern finance, helping businesses raise capital, supporting investment activity, and expanding access to funding.

Its growth reflects a broader shift in how money moves through the economy. While regulators continue to monitor the risks, shadow banking is likely to remain an important source of financing in the years ahead.

For entrepreneurs, investors, and anyone following the future of finance, understanding shadow banking is no longer optional; it's now essential.

Ghada Ismail

In the startup world, raising money is often treated as the ultimate sign of success. Big funding rounds generate headlines, attract attention, and create momentum around companies. But experienced founders know something many first-time entrepreneurs eventually learn the hard way: not all money behaves the same way.

Some investors stay committed when growth slows down or markets become uncertain. Others disappear the moment conditions become difficult.

That difference is what people in the investment world call “sticky capital.”

What Is Sticky Capital?

Sticky capital refers to long-term investment that stays committed to a company or market despite temporary setbacks, economic uncertainty, or market volatility.

Unlike speculative funding that chases trends and quick returns, sticky capital focuses on sustainable growth. Investors providing this type of funding understand that building successful businesses takes time and that difficult periods are part of the process.

In simple terms, sticky capital is often described as “loyal money.”

Sticky capital usually involves:

• Investors staying during downturns instead of exiting quickly 
• Long-term commitment over short-term gains 
• Patience with slower growth periods 
• Strategic guidance alongside financial support 
• Focus on fundamentals rather than hype 

For founders, this kind of stability can be incredibly valuable. It creates room to experiment, solve problems, and improve the business without constantly worrying about investors suddenly pulling back.

Not All Money Behaves the Same Way

In the startup ecosystem, founders often celebrate funding rounds as signs of success. But experienced entrepreneurs know that where the money comes from matters just as much as how much is raised.

Some investors aggressively enter trending sectors during boom periods, chasing hype and fast returns. But when markets cool down, they pull back just as quickly.

This is often called “tourist capital.”

Tourist capital follows momentum. Sticky capital follows conviction.

The difference is simple:

Tourist Capital

• Chases trends and hype 
• Focused on quick returns 
• Pulls back quickly during downturns 

Sticky Capital

• Thinks long term 
• Supports sustainable growth 
• Remains committed during uncertainty 

That difference can completely shape a startup’s future.

Why is Sticky Capital important?

Startups operate in uncertain environments by nature. Markets shift, customer behavior changes, competition evolves, and economic slowdowns can happen unexpectedly.

During those moments, stable investors become extremely important.

Startups backed by sticky capital are often better positioned to survive difficult cycles because they are not forced into panic-driven decisions. Instead of abandoning long-term goals outright, they can focus on improving products, refining operations, and adapting strategically.

Sticky capital also allows founders to think beyond short-term optics. When entrepreneurs know their investors believe in the bigger vision, they are more likely to invest in talent, infrastructure, and long-term product development instead of obsessing over the next funding round.

In many cases, companies built with patient capital become healthier businesses because they are focused on fundamentals rather than hype.

To Wrap Things Up…

Every startup ecosystem wants investment flowing into the market. But sustainable growth depends on attracting the right type of investment.

Sticky capital encourages healthier founder-investor relationships, supports long-term thinking, and helps startups survive difficult cycles without losing focus.

Most importantly, it creates businesses built on resilience rather than hype.

Ghada Ismail

A few years ago, launching a startup in Saudi Arabia usually followed a familiar path. Founders would enter an accelerator, pitch investors, secure early funding, and then try to figure everything else out along the way. Today, a different model is beginning to take shape across the Kingdom, one that is less about simply financing ideas and more about building companies from the ground up.

Welcome to the era of venture studios.

Across Saudi Arabia, a growing number of venture builders are quietly changing how startups are created. Instead of waiting for entrepreneurs to arrive with fully formed businesses, these studios help shape the idea itself, validate the market, recruit talent, build products, and guide operations from day one. In many cases, they act less like investors and more like co-founders.

The rise of players such as VMS, Sanabil Studio, and Lean Node Venture Studios reflects a broader shift happening inside Saudi Arabia’s startup ecosystem. The conversation is no longer just about funding entrepreneurs. It is increasingly about building startups systematically, repeatedly, and at scale.

Moving Beyond the Accelerator Boom

For years, Saudi Arabia has focused heavily on laying the groundwork for entrepreneurship. Government initiatives, accelerator programs, startup competitions, and venture capital funds helped create momentum in the ecosystem. As investment activity accelerated, the Kingdom quickly became one of the Middle East’s largest startup funding markets.

But money alone could not solve every challenge.

Many startups still struggle with execution. Some founders had strong technical skills but limited experience building scalable businesses. Others found it difficult to navigate regulations, recruit the right talent, localize products, or acquire customers efficiently.

That gap created space for venture studios to emerge.

Unlike traditional venture capital firms that invest after a startup already exists, venture studios often start much earlier. They identify opportunities internally, test market demand, help shape business models, and sometimes build entire companies alongside entrepreneurs from the earliest stages.

Globally, the model has already produced major companies within various sectors. Saudi Arabia is now adapting the concept to fit its own market dynamics and economic ambitions.

Why the Model Makes Sense in Saudi Arabia

The venture studio approach fits naturally with where Saudi Arabia’s ecosystem stands today.

Under Vision 2030, the Kingdom is trying to diversify its economy, accelerate innovation, create private-sector jobs, attract global talent, and localize emerging industries, all at the same time.

Venture studios actually offer a structure that supports many of those goals simultaneously.

Unlike short-term accelerator programs, studios stay involved throughout the startup journey. They provide operational support, legal guidance, hiring assistance, technical development, fundraising strategy, and business connections under one roof.

For first-time founders, that reduces risk considerably.

For investors, it creates a more controlled environment where ideas are validated before large amounts of capital are deployed.

And for Saudi Arabia, venture studios provide a way to systematically produce startups in strategic sectors such as fintech, AI, logistics, tourism, enterprise software, and digital commerce.

That is why many Saudi venture studios no longer describe themselves simply as investment firms. They position themselves as company builders.

VMS and Saudi Arabia’s Soft-Landing Opportunity

Among the more visible players in this space is Value Makers Studio (VMS), which positions itself as both a venture studio and a platform helping regional and international startups enter the Saudi market.

Based in Riyadh, VMS provides support that goes beyond capital, including technology development, legal assistance, marketing support, financial guidance, and access to Saudi business networks. The company also operates initiatives such as the ‘VMS Bridge Program,’ which focuses on connecting startups from emerging markets with Saudi Arabia’s innovation ecosystem.

That ‘soft-landing’ approach is becoming increasingly relevant as more foreign founders and international startups look toward Saudi Arabia as a regional expansion market.

VMS also reflects a broader trend emerging across the Kingdom’s startup ecosystem, where venture studios are evolving into ecosystem connectors alongside their company-building role. In practice, this often means helping startups navigate relationships with investors, corporations, regulators, and local business networks, presenting an advantage that can significantly influence how quickly companies scale in Saudi Arabia.

Sanabil Studio and Institutional Startup Creation

A stronger example of institutional venture building can be seen in Sanabil Studio, which was established by Sanabil Investments, a wholly owned subsidiary of the Public Investment Fund. 

The studio focuses on building startups from the earliest stages, working closely with founders across ideation, prototyping, MVP development, product design, engineering, hiring, finance, and growth support. According to the studio’s website, it combines capital, market insight, and hands-on operational support to help founders launch and scale ventures in Saudi Arabia. 

What makes Sanabil Studio particularly notable is its combination of sovereign-backed capital with hands-on company creation. Unlike traditional venture capital firms that typically invest after startups are already established, venture studios such as Sanabil Studio participate much earlier in the company-building process, often helping shape ventures from ideation through early execution. 

Lean Node and the “Startup Factory” Approach

Another important player is Lean Node, which focuses on building ventures internally while supporting entrepreneurs through structured startup-building programs.

According to the company, it has helped launch more than 18 startups since 2017 using a repeatable venture-building framework designed to reduce common startup risks.

Lean Node highlights one of the biggest advantages of the venture studio model: operational centralization.

Instead of every startup building separate HR systems, legal structures, financial operations, and development teams from scratch, studios create shared infrastructure that multiple ventures can use simultaneously.

This lowers costs, speeds up execution, and allows studios to test ideas more rapidly across different sectors.

In many ways, the model resembles a startup factory more than a conventional investment firm.

Lean Node and the “Startup Factory” Approach

Another important player in Saudi Arabia’s venture studio ecosystem is Lean Node, which focuses on building ventures internally while supporting entrepreneurs through structured startup-building programs.

According to the company’s website, Lean Node has helped build more than 18 startups since 2017 through a venture-building model focused on developing scalable businesses across the MENA region. The studio describes itself as “an engine that builds disruptive products” using a “tested and streamlined process” designed to maximize success while lowering risk. 

The company’s structure reflects one of the core characteristics of the venture studio model: centralized operational support. Rather than every startup independently building teams and systems from scratch, venture studios typically provide shared access to areas such as product development, operational guidance, technical expertise, and business support. This approach can reduce early-stage costs and accelerate execution across multiple ventures simultaneously. 

Lean Node has also expanded into specialized venture-building initiatives, including fintech-focused startup creation through partnerships such as Lean Fintech, launched with Mjalis Investment during LEAP 2023. 

In practice, the model operates more like a startup production platform than a conventional investment firm, with venture studios playing an active role in company creation rather than acting solely as financial backers. 

Closing the Founder Experience Gap

One reason venture studios are gaining traction in Saudi Arabia is that they directly address one of the ecosystem’s biggest challenges: experience.

The Kingdom has no shortage of ambitious entrepreneurs or available capital. What remains relatively limited, however, is the number of experienced startup operators who have repeatedly built and scaled companies.

Founders across the ecosystem frequently talk about the difficulties of navigating fundraising, finding product-market fit, hiring effectively, and scaling operations.

Venture studios attempt to shorten that learning curve.

Instead of forcing founders to figure everything out alone, studios embed experienced operators, engineers, marketers, product designers, and venture builders directly into the process from the beginning.

The Challenges Behind the Hype

Still, venture studios are not a perfect solution.

Some entrepreneurs argue that studio models can dilute founder ownership too aggressively. Others question whether startups created inside structured environments develop the same resilience as companies built independently.

There are also operational risks.

Running multiple startups simultaneously requires significant capital, talent, and management discipline. Internationally, several venture studios have struggled to maintain strong long-term performance across large portfolios.

Another open question is whether venture studios can consistently produce truly disruptive innovation rather than safer, optimized versions of existing business models.

Saudi Arabia’s ecosystem is still young enough that many of these questions remain unanswered.

Even so, supporters of the model believe the Kingdom’s current market conditions make venture studios especially relevant. In an ecosystem that is still building institutional startup knowledge, structured company creation may offer advantages that traditional founder-led approaches cannot always provide on their own.

The Future Ahead

The next phase of Saudi Arabia’s venture studio ecosystem will likely become far more specialized.

Future studios may focus entirely on sectors such as AI, cybersecurity, climate tech, gaming, logistics, biotech, fintech, or deep tech. Some early signs of that trend are already emerging through initiatives tied to advanced technologies and national innovation priorities.

AI-native venture studios could also become increasingly common as generative AI dramatically reduces development timelines and startup operating costs.

At the same time, international venture builders are expected to form more partnerships inside the Kingdom as Saudi Arabia continues positioning itself as one of the region’s largest startup markets.

What is already becoming clear, however, is that Saudi Arabia’s ecosystem is entering a new stage of maturity. The early era of startup hype is gradually giving way to something more structured, operational, and institutionalized. And venture studios may end up playing a central role in that transition, not simply by funding the next generation of Saudi startups, but by helping build them from scratch.

Shaimaa Ibrahim 

In a rapidly evolving hospitality landscape, extended-stay accommodation is emerging as one of the region’s most dynamic yet underserved segments. As workforce mobility rises and demand increases for flexible, long-term living solutions, traditional hospitality models are reaching their limits. Persistent pricing inefficiencies, fragmented supply, and the absence of enterprise-grade infrastructure continue to define a market that is still in the early stages of digital transformation.

In this exclusive interview, Osama Shawky, Founder and CEO of estaie, shares insights into how the company is redefining the extended-stay category through AI-driven pricing, platform-based infrastructure, and strategic supply aggregation. He discusses the key structural gaps in the market, the transformative role of AI in hospitality technology, and estaie’s ambition to position itself as a foundational infrastructure layer for extended stays across the region. Shawky also outlines the company’s growth strategy following its recent funding round, its expansion priorities in Saudi Arabia, and the regulatory and operational challenges shaping its path forward.

What key gaps exist in the Extended-Stay market, and how is estaie addressing them differently from traditional platforms?

The extended-stay market is fundamentally underserved. Monthly stays are treated as a secondary use case, pricing is static, and enterprise workflows are missing. estaie addresses these challenges by building a dedicated platform for stays ranging from 30 to 365 nights, combining AI-driven pricing, enterprise infrastructure, and aggregated supply. The most complex gap is pricing, which we are addressing through proprietary, patent-pending intelligence.

How is AI transforming hospitality tech, and which applications have the greatest impact on customer experience and operational efficiency?
AI is shifting hospitality from static distribution to real-time optimization. The biggest impact comes from dynamic pricing, demand forecasting, and the automation of booking and billing processes. In extended stays, AI is critical because it optimizes duration, pricing, and operations simultaneously.

How mature is the hospitality tech sector in the region, and where does estaie aim to position itself in this digital transformation?

The hospitality tech sector in the region is still in its early stages, especially in the extended-stay segment, where there is a heavy reliance on manual processes. This creates a clear opportunity. Our ambition is to position estaie as the infrastructure layer for extended stays across the region.

How are startups driving innovation in hospitality tech, and how can they redefine traditional business models?
Startups are shifting the model from asset-heavy to platform-driven. However, real innovation goes beyond user experience—it involves solving challenges around pricing, supply standardization, and enterprise integration. That’s where we are focused.

After your recent funding round, what are your top priorities for deploying capital, particularly in tech infrastructure and strategic partnerships?

We’re prioritizing defensibility. This includes investing in AI-driven pricing infrastructure, building enterprise integrations, and expanding supply through strategic partnerships. The objective is to create strong network effects early.

Why is the Saudi market a priority for expansion, and what opportunities are you targeting in Riyadh?
Saudi Arabia represents one of the largest pools of unmet demand globally for extended stays. Riyadh is becoming a hub for corporate relocation and project-based work, but the supply remains fragmented. We are targeting this demand-supply imbalance early.

What regulatory and operational challenges do you anticipate in Saudi Arabia, and how are you preparing to address them?

The main challenges revolve around classification, compliance, and billing structures. We are addressing them through local partnerships, regulatory alignment, and product localization. These complexities ultimately become barriers to entry.

What factors drive your strong monthly growth, and how did you quickly build a partner network of hundreds of hotels?

Our growth is driven by solving a high-value problem for both corporates and supply partners. We deliver better pricing, higher occupancy, and a seamless experience. This alignment, combined with fast execution and low onboarding friction, has enabled rapid network expansion.

What is your strategic forecast for the future of the extended-stay market in the region?

We see extended stays becoming a distinct, technology-driven category within the hospitality sector, driven by workforce mobility and flexible living. The core challenge—pricing and standardization at scale—remains unsolved, and that’s where we are building our advantage.

Ghada Ismail

When a business hits a rough patch, the words “insolvency” and “bankruptcy” often get tossed around like they mean the same thing, but they don’t. Think of insolvency as a warning light flashing on your financial dashboard, while bankruptcy is the emergency brake pulled when that warning goes unheeded.

For entrepreneurs, founders, and small business owners, knowing the difference isn’t just academic—it can mean the difference between saving your company and losing it entirely. Spotting trouble early gives you a chance to act, restructure, and steer your business back to stability before it’s too late.

What Is Insolvency?

Insolvency isn’t a sudden disaster; it’s a financial red flag. It happens when a person or business can’t pay debts on time. You might still own valuable assets, like property or inventory, but if cash isn’t flowing in fast enough to cover obligations, trouble is brewing.

There are two main types of insolvency. Cash flow insolvency happens when a business can’t meet immediate payments, even if it owns assets that could eventually cover debts. Balance sheet insolvency is more severe; it occurs when total liabilities outweigh total assets, meaning selling everything wouldn’t be enough to repay creditors.

The key thing to remember: insolvency is a financial condition, not a legal process. Many businesses go through temporary insolvency without ever entering court. With quick action—like renegotiating debts, restructuring operations, or securing new funding—recovery is often possible.

What Is Bankruptcy?

Bankruptcy, in contrast, is a legal procedure that a person or company initiates when debts have become unmanageable. Here, the court steps in to oversee how debts are handled, assets are distributed, or obligations are restructured.

Bankruptcy can take different forms. Liquidation means selling all assets to repay creditors and closing the business. Reorganization allows the company to continue operating while paying off debts under court supervision.

Put simply, bankruptcy is a legal response to insolvency, not the same as insolvency itself. Think of insolvency as the storm warning and bankruptcy as the life raft—if you ignore the warning, you may end up in court.

Why the Difference Matters

For business owners, confusing insolvency with bankruptcy can be costly. Insolvency is the stage where you still have options. Acting fast can prevent a full-blown bankruptcy. This could mean cutting unnecessary costs, renegotiating loan terms, pivoting your business model, or bringing in new investment.

Once bankruptcy proceedings start, control slips away. Creditors and the court decide your company’s fate, leaving little room for entrepreneurial maneuvering. Knowing where your business stands financially lets you act proactively instead of reactively.

Warning Signs You Can’t Ignore

Insolvency rarely hits overnight. It usually creeps in with small, manageable problems that grow if ignored.

Watch for persistent cash flow shortages, like delayed supplier payments or reliance on short-term borrowing. Declining profit margins combined with rising debt are also red flags. For startups, these signals are amplified—long periods of unprofitability and reliance on investor funding make sudden cash shortages more dangerous.

The earlier you spot these issues, the more options you have. Acting too late can force a company into bankruptcy even if it might have been saved.

Insolvency Doesn’t Always Mean Failure

Despite the scary terminology, insolvency doesn’t automatically mean the end. Many successful companies have faced insolvency, restructured, and bounced back stronger. The key is timing and strategy. Acting early—cutting costs, restructuring debt, and finding new revenue streams—can turn financial trouble into a turnaround story.

Wrapping Things Up…

Insolvency and bankruptcy are connected but not the same. Insolvency is a financial warning: you can’t pay your debts on time or owe more than you own. Bankruptcy is a legal response to insolvency when the situation becomes unsustainable.

For entrepreneurs, recognizing the difference is crucial. Insolvency is your chance to course-correct. Bankruptcy signals that the situation has escalated to the legal stage, often leaving you less control over your company’s future.

By spotting the warning signs early and taking decisive action, businesses can often navigate through financial challenges, recover, and even thrive. In finance, timing isn’t just important—it can save your business.

Ghada Ismail

Pricing is one of the most underestimated decisions in a startup’s journey. Founders often focus on product, growth, and fundraising, while pricing becomes a rushed decision or a copy of what competitors are charging. Philip Kotler, the father of modern marketing, challenges this thinking by positioning pricing as a strategic lever that shapes perception, profitability, and long-term survival.

For startups with limited runways, poor pricing rarely fails dramatically. Instead, it slowly erodes momentum through weak margins, confused positioning, and undervalued products.

How Kotler Defines Strategic Pricing

Kotler describes pricing as the only part of the marketing mix that generates revenue, while everything else creates cost. Strategic pricing aligns price with customer value, business objectives, competitive context, and brand positioning, not just internal costs.

For startups, pricing should reflect future direction, not just current expenses. Pricing purely to “gain users” without a profitability path is not a strategy; it is a delayed risk.

Value-Based Pricing Over Cost Thinking

A core Kotler principle is value-based pricing. Startups should price based on the value they deliver, not what it costs to build the product.

Early-stage founders often underprice out of fear or comparison. But customers don’t buy features; they buy outcomes. A SaaS product that saves teams hours each week is selling efficiency and peace of mind, not code. This is why many successful startups raise prices once they clearly understand their real value.

Pricing as Positioning

Price is one of the strongest brand signals. It shapes expectations before customers ever experience the product.

For startups, misaligned pricing damages credibility. A fintech claiming enterprise-grade security while charging bargain prices creates doubt, while premium pricing without a strong experience erodes trust. Strategic pricing ensures consistency between promise, experience, and perception.

Competing Without Racing to the Bottom

Kotler strongly warns against price wars, especially in crowded markets. Undercutting competitors may drive short-term adoption but often leads to unsustainable margins.

Instead, startups should differentiate through pricing structure rather than price itself. Tiered plans, freemium access, and usage-based models allow startups to serve diverse customers while preserving value. Competing on price alone is rarely strategic and rarely sustainable.

The Psychology of Pricing

Customers evaluate price emotionally as much as rationally, comparing it to expectations and perceived fairness.

Sudden price increases without clear justification damage trust. Strategic pricing relies on transparency, timing, and clear value communication. This is especially critical for subscription-based startups, where long-term trust drives retention.

Pricing as a Learning System

Kotler views pricing as dynamic, not fixed. Startups should test and refine pricing as they learn more about demand and willingness to pay.

However, constant or reactive changes create confusion. Strategic pricing balances experimentation with consistency, treating pricing as a structured learning process rather than guesswork.

Mistakes Kotler Warns Startups About

Kotler cautions against pricing purely for growth, ignoring customer value perception, reacting emotionally to competitors, and separating pricing from overall strategy.

One of the most dangerous assumptions is that lower prices automatically drive adoption. In many cases, weak pricing reflects weak positioning, not weak demand.

Applying Kotler’s Thinking

Kotler’s framework pushes startups to start with customer value, define clear pricing objectives, understand competitive boundaries, and evolve pricing as the business matures.

Strategic pricing is not about finding a perfect number. It is about building a pricing system that supports growth, credibility, and long-term sustainability.

Wrapping Things Up…

Philip Kotler’s approach turns pricing from a survival tactic into a competitive advantage. For startups, getting pricing right early protects margins, strengthens positioning, and enables healthier growth. In markets where products are easy to copy, pricing strategy often becomes the true differentiator.

Noha Gad

Traditional top-down models often struggle to scale amid economic uncertainties in today’s fast-evolving startup landscape; hence, the shift towards community-driven startups gained significant momentum. This transformative model redefines success by democratizing the creation process, empowering users not just as buyers but as active participants to co-shape products, amplify voices, and propel growth through authentic connections and collective energy.

While traditional startups often launch polished products into a silent vacuum, community-driven ventures build their roadmap out in the open, alongside their first users.

Community-driven startups heavily rely on their user base who actively participate in shaping the product, culture, and growth trajectory, rather than serving as mere end-users. These startups build platforms or services centered on fostering closed networks of enthusiasts who contribute ideas, content, feedback, and even governance. Unlike passive consumer applications, community-driven startups prioritize ongoing collaboration, including think forums for feature requests, user-generated templates, or member-led events that evolve the offering organically. 

Community-driven vs. Traditional startups

Traditional startups follow a top-down blueprint where founders design a product in isolation, launch via paid ads or influencers, and iterate based on metrics such as acquisition cost. Unlike traditional models, where users act as passive consumers reliant on marketing budgets and virality hacks for growth, community-driven approaches make users co-creators and advocates through real-time forums, beta testing, and organic referrals. This model can increase the community engagement rate fivefold as users feel ownership, eventually reducing churn and boosting lifetime value.

How to build a strategy as a community-driven startup

Community-driven startups employ strategic steps to cultivate engaged user bases that propel product evolution and sustainable growth. 

• Clarify the community’s purpose. Identify ideal members through persona research via surveys or outreach on platforms, then choose accessible channels and launch with a small group of 50-100 founding members recruited personally. Hosting weekly events like AMAs (Ask Me Anything), polls, or feedback sessions will help ignite participation and build trust through visible responsiveness.
• Encourage contributions early with low-friction tools, such as dedicated forums for feature ideas, user-generated content templates, or beta testing invites. Recognizing active members via shoutouts, badges, exclusive access, or revenue-sharing perks will foster a sense of ownership and culture.
• Expand tactics via referrals and incentives. Introduce scalable events such as mentorship circles, expert webinars, or hackathons to deepen connections without diluting intimacy. Integrate feedback loops continuously to ensure that growth aligns with community needs rather than vanity metrics.
• Achieve long-term sustainability. Survey members regularly, refine based on data, and foster network effects through peer connections and ambassador programs. This would help startups adapt to changing dynamics and cultivate sub-communities for specialized interests to prevent stagnation.

Key benefits

Community-driven startups deliver remarkable advantages by embedding users as core stakeholders, transforming potential costs into self-reinforcing growth engines. Engaged communities foster deep ownership, yielding up to 5x higher retention rates compared to traditional models. Additionally, crowdsourced feedback loops accelerate innovation and help startups minimize product development cycles, while ensuring relevance and delighting early adopters with tailored features.

Loyal members promote the startup through personal referrals and recommendations, which greatly reduce the cost of gaining new customers. Thus, startups will no longer need to launch expensive advertising campaigns, relying on members who naturally increase reach and create network effects that add value with each new member.

Community-based startups are more likely to handle economic challenges among passionate communities that offer stability through ongoing participation. This promotes users’ loyalty and makes them a strong defense against competitors who rely on short-lived trends.

While traditional models focus on isolated polish and paid reach, community-driven startups unlock a more resilient path: turning users into passionate partners who co-build products and fuel growth. This shift significantly redefines how startups grow by prioritizing purpose over polish and collaboration over campaigns, ultimately enabling founders to cultivate not only a wide user base but also a vested community that innovates, retains, and defends together.

Ghada Ismail

For many startups, revenue growth is treated as a numbers game: more leads, more sales calls, more discounts. But as markets tighten and investors become more selective, this approach is proving fragile. Revenue engineering offers a structured alternative, one that treats revenue as a system to be designed, tested, and optimized, not just chased.

Instead of asking “How do we sell more?”, revenue engineering asks: “How does our product, pricing, and customer journey work together to generate sustainable, predictable revenue?” In other words, it’s not just about closing deals, but rather about designing a revenue machine that grows with your business.

What Is Revenue Engineering?

Revenue engineering is the deliberate design of a startup’s revenue model. It connects pricing, product design, customer behavior, and distribution channels into a coherent system aimed at predictable, scalable, and sustainable income.

Unlike traditional sales-led approaches that focus on pushing transactions, revenue engineering looks at the full picture: how pricing structures influence adoption, how product packaging drives upgrades, and how retention strategies affect lifetime value. For startups, applying this mindset early can prevent common pitfalls that are expensive or impossible to fix later.

Why Startups Should Care Early

Early-stage startups often make revenue mistakes that seem minor but have long-term consequences. Misaligned pricing, confusing product tiers, or poorly defined customer segments can lead to low margins, high churn, and dependence on discounts to close deals. Investors are increasingly looking beyond top-line growth, as they want proof that your revenue model is solid and scalable.

Revenue engineering addresses these challenges by creating a system that naturally drives predictable results.

Core Pillars of Revenue Engineering

1. Pricing Architecture
   Startups need to choose pricing models that reflect both market realities and product value. Subscriptions, usage-based pricing, freemium, or enterprise contracts each work differently and must evolve as the business grows. Testing pricing early is crucial to avoid missed revenue opportunities.
2. Product Packaging
   Deciding which features are free, paid, or premium isn’t just a marketing decision; it directly affects revenue. Proper packaging guides customer behavior, incentivizes upgrades, and ensures that your most valuable features generate the right return.
3. Customer Segmentation
   Not all customers are the same, and revenue engineering ensures that offers align with willingness to pay. Segmenting customers by behavior, value, or needs allows startups to tailor pricing, upsells, and communication effectively.
4. Sales & Distribution Logic
   Startups must choose how to reach customers efficiently. Self-serve, inside sales, enterprise teams, or channel partners each have pros and cons. Revenue engineering ensures the distribution strategy supports scalable revenue rather than just immediate wins.
5. Retention & Expansion Mechanics
   Sustainable growth doesn’t rely only on new customers. Revenue engineering plans for upsells, cross-sells, and renewals from the start, ensuring long-term value from each client.

Common Mistakes Startups Make

Many early-stage startups fail at revenue engineering without even realizing it. Common errors include:

• Copying competitors’ pricing without understanding unit economics
• Over-discounting to close early deals
• Building features that don’t unlock higher-paying tiers
• Treating churn as a customer problem, instead of a signal of flawed revenue design

Recognizing these pitfalls early can save a startup from costly missteps.

Revenue Engineering vs. Sales-Driven Growth

Revenue engineering does not eliminate the need for sales; it actually strengthens it. Even the best sales teams struggle when the underlying revenue model is unclear or poorly designed. By building the revenue system first, startups give sales teams clear pricing, defined margins, and repeatable processes. The goal is to create a revenue machine that supports sales efforts, rather than depending entirely on aggressive sales activity to drive growth.

To Wrap Things Up..

Revenue engineering is less about spreadsheets and more about intentional design. For startups, it’s the difference between reacting to revenue pressure and creating a business that earns sustainably. By aligning pricing, product, customer behavior, and distribution from the start, founders can build a revenue system that grows with the company.

In an era where growth-at-all-costs is no longer sustainable, startups that engineer their revenue carefully—rather than simply chasing sales—are the ones that will survive, scale, and thrive.

Ghada Ismail

Some startups seem to explode overnight, appearing in feeds, conversations, and headlines almost magically. But virality is rarely accidental. Behind every breakout success is a careful mix of human psychology, clever product design, perfect timing, and engineered growth mechanics. Virality is not luck then; it’s strategy. Understanding why certain products spread like wildfire can reveal patterns that founders, marketers, and product teams can intentionally leverage. In other words, going viral is less about chance and more about creating the conditions that make sharing irresistible, adoption effortless, and growth self-propagating.

1. Psychology: Why People Share

Viral products succeed because they tap directly into human behavior. People don’t just share products; they share experiences that make them feel seen, valued, or emotionally engaged.

• Identity expression: Users share things that reinforce how they see themselves or how they want to be perceived.
• Emotional impact: Strong emotions—whether delight, surprise, or even frustration—motivate people to talk about a product. The more emotionally charged an experience, the more likely it spreads.
• Social currency: Sharing gives users a sense of contribution or status. By showing others something new, useful, or exclusive, they feel like they are providing value to their network.

Pro Tip: Emotional engagement often drives more shares than functional usefulness. Products that trigger strong, shareable emotions scale faster.

2. Product Loops: Growth Built Into the Product

The most viral startups design mechanisms that naturally pull in more users. This is called a “growth loop.”

• Network effects: Messaging apps or collaborative tools become more valuable as more people join.
• Referral loops: Incentivized invitations, like Dropbox’s early free-storage strategy.
• Content loops: Platforms like Instagram or TikTok grow because user-generated content spreads organically.

Pro Tip: Products that embed sharing into their core functionality can sustain long-term viral growth without heavy marketing spend.

3. Onboarding: Instant Value Matters

A viral product must deliver value immediately. Users ask:

• “Can I understand this in seconds?”
• “Is it easy to start using without instructions?”
• “Can I quickly experience the benefit?”

Pro Tip: Frictionless onboarding directly correlates with higher share rates. The simpler the first experience, the more likely users are to invite others.

4. Timing: Hitting the Cultural Sweet Spot

Even the best product may fail if the market isn’t ready. Virality often depends on alignment with cultural or technological trends.

• Zoom’s rise coincided with remote work adoption.
• Fitness apps surged during global lockdowns.
• New social media tools often succeed when network behaviors are shifting.

Pro Tip: Timing amplifies the effectiveness of psychological triggers and product loops. A perfectly engineered product launched too early or too late may never go viral.

5. Social Proof and FOMO: Accelerating Momentum

Virality grows faster when users see others using or endorsing the product. Techniques include:

• Invite-only launches and waitlists to create scarcity.
• Influencer endorsements for credibility.
• Shareable content (screenshots, posts) that spreads awareness.

Pro Tip: Social proof multiplies momentum by increasing the probability that users will share or invite others.

6. Speed and Experimentation Create “Luck”

While luck plays a role, successful startups usually create conditions for it. They:

• Launch quickly and expand based on feedback.
• Test bold ideas and pivot fast.
• Observe trends and react before competitors.

Pro Tip: Virality rarely happens without a culture of rapid experimentation. Startups that move fast can capitalize on windows of opportunity that others miss.

Conclusion: Virality Can Be Engineered

Virality is often treated as a mysterious, almost magical phenomenon, but the truth is more tangible. Successful startups achieve virality by understanding human behavior, embedding sharing mechanisms into their products, launching at the right moment, leveraging social proof, and moving faster than anyone else. The brands that truly explode don’t wait for luck; they create it. By studying these patterns, founders can shift their mindset from hoping for virality to designing it into their products, making growth predictable, measurable, and sustainable.