Mobile banking technology and remittance provider NOW Money has closed its bridge funding round after attracting a total of $1.46 million. Dubai VC firm Myrisoph Capital, the Women’s Angel Investor Network and private investors also took part.
“We’ve been working with Myrisoph since the beginning of 2017, and what struck us about the company was their extensive knowledge and understanding of the Gulf region and their unparalleled expertise and connections within financial services here,” NOW Money cofounder Ian Dillon said. “The positive contributions we are seeing from Myrisoph, WAIN and the private investors, in addition to those from Accion and Newid Capital, are fantastic and are already adding real value to NOW Money’s business.”
“We’ve been looking at partnering with an impact player within the fintech space in the GCC for a while now, and we believe NOW Money is that partner,” Myrisoph Capital managing partner Hassan Alhassani said. “We were impressed by the business model as well as the social implications in the region. We were also struck by the passion and capabilities of the founders Katharine and Ian, and we are proud to be a part of the NOW Money future.”