#18 - Ziyaad Ahmed on exiting, re-acquiring, and exiting again the first BNPL platform in MENA, and why most investors don't understand co-founder relationships.

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Now We Build

Sam Marchant

37 episodes

2 weeks ago

Now We Build in a podcast hosted by Sam Marchant, an entrepreneur turned investor. Sam's conversations with seasoned company founders and operators will give you unique insights, wisdom and practical guidance on how to build your startup for success.

Now We Build is proudly sponsored by Google Cloud, Carta, Fuelled Insurance, and Seven Legal.

Hosted on Acast. See acast.com/privacy for more information.

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Now We Build is proudly sponsored by Google Cloud, Carta, Fuelled Insurance, and Seven Legal.

Hosted on Acast. See acast.com/privacy for more information.

Business

Technology

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#18 - Ziyaad Ahmed on exiting, re-acquiring, and exiting again the first BNPL platform in MENA, and why most investors don't understand co-founder relationships.

Now We Build

39 minutes 27 seconds

1 year ago

#18 - Ziyaad Ahmed on exiting, re-acquiring, and exiting again the first BNPL platform in MENA, and why most investors don't understand co-founder relationships.

In this conversation, Ziyaad Ahmed shares his entrepreneurial journey, detailing the founding of Spotii, a FinTech company in the UAE, and the challenges faced in building a startup in a developing ecosystem. He discusses the impact of COVID-19 on consumer behavior, the fundraising landscape in the UAE, and the unique dynamics of being co-founders with his sister. Ziyaad also reflects on the acquisition of Spotii by Zip and the subsequent transition to a new venture focused on AI.

Keywords

Spotii, FinTech, UAE, entrepreneurship, COVID-19, fundraising, sibling co-founders, acquisition, AI, startup ecosystem

Takeaways

Spotii was founded to address a gap in the MENA region's payment industry.
The UAE's startup ecosystem has evolved significantly in recent years.
COVID-19 accelerated the shift towards online shopping in the region.
Fundraising in the UAE is dominated by family offices and government funds.
Sibling co-founders can leverage their trust to navigate challenges effectively.
Acquisition offers can be both flattering and strategically beneficial.
Transitioning to a capital-light business model can mitigate risks.
AI is seen as a transformative force in various industries.
Building a strong tech stack is crucial for startup success.
The journey of entrepreneurship is often filled with emotional highs and lows.

Titles

Building a FinTech Revolution in the UAE
From Employee to Entrepreneur: The Spotii Story
How COVID-19 Changed Consumer Behavior

Sound Bites

"This is a product that could do really well."

"The UAE has made great strides over the past five years."

"65% of startups will fail because of founder disagreement."

"We want to build out a global BNPL platform."

"It's incredibly flattering when someone wants to acquire you."

"We managed to sign on Amazon, for example."

"We decided to pivot the business to avoid capital requirements."

Chapters

00:00 The Founding Journey of Spotii

02:56 Navigating the UAE Startup Ecosystem

05:55 Impact of COVID-19 on Business

08:48 Fundraising Landscape in the UAE

11:56 Sibling Co-Founders: A Unique Dynamic

14:58 Acquisition Journey of Spotii

17:50 Transitioning to AI and Future Prospects

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