Resal CEO Hatem Kameli On Building A Fintech Pioneer Out Of Saudi Arabia
Inc. Arabia spoke with the Saudi entrepreneur about his startup's mission to simplify alternative finance at this year's edition of Money20/20 Middle East in Riyadh.
When Inc. Arabia asked Resal co-founder and CEO Hatem Kameli about the trajectory he envisions for his KSA-based fintech startup, he had a rather succinct answer: “Our plan simply is to solve bigger problems.”
That ethos was on full display during Resal’s appearance at this year’s Money20/20 Middle East in Riyadh, where Kameli and his team made three strategic announcements about their Saudi startup that’s pioneering the innovation and development of smart financial solutions for non-cash value, including loyalty points, vouchers, miles, and digital cards.
Among the highlights was Resal’s tie-up with global fintech player, Runa. The partnership grants Resal access to Runa’s “pay to card” capability, while also enabling seamless payouts in over 60 markets around the world. The move has been described as a major step in Resal realizing its mission to simplify alternative finance and redefine how organizations manage payouts, stipends, and rewards at scale.
The Resal team at this year's Money20/20 Middle East. Image courtesy Resal.
The Saudi startup also launched Resal Pay, a breakthrough solution that enables the redemption of loyalty points, cashback, and rewards with a selected group of partners, providing customers with more flexible and valuable ways to use their digital benefits. In addition, Resal also introduced an application program interface (API)-powered micro-loan solution, which has been specifically designed to support micro-lending companies and financial platforms in the MENA region.
But these milestones are only the beginning of a much larger journey for Resal. That was clear when Kameli—who is also the co-founder of Saudi scaleup Lucidya—shared with Inc. Arabia his ambitions for the KSA-born enterprise that has already grown beyond its borders. “Our plan, for the next three years, is to build a scalable model, and expand our network,” he said. “Now, we have a network across 10 countries, and we are planning to expand it to 60 markets in the next three years.”
Check out the full video to learn more about Kameli’s vision for Resal.
