‘Shop Now, Pay Later’ platform launch in the GCC energizes the region’s start-up ecosystem
Daman Investments has led the successful fundraising for Spotii, an innovative digital payments platform focused on fashion, beauty and lifestyle brands that is making an impact across the GCC e-commerce landscape.
Spotii has developed a trusted and inclusive way for customers to ‘Shop Now and Pay Later’ over four equal instalments with no interest, no cost and no catch. Additionally, business owners receive several tangible benefits, including full upfront payment for their sales, larger basket sizes, improved conversion rates and fewer refunds, the start-up said in a press release.
Siblings and founding partners, Anuscha Iqbal and Ziyaad Ahmed designed Spotii around a shared goal of helping small businesses and local brands by making their product offerings more attainable for the UAE shopping community.
Spotii’s mission is to empower customers to enjoy their shopping experience without worrying about excessive costs or hidden fees. At the same time, Spotii provides business owners with a proven and dynamic conversion strategy that also enhances customer loyalty.
As more businesses gravitate online, providing an easy-to-use consumer friendly payments solution is a vital value-added service that businesses can offer their customers.
“We are confident that the launch of this payments platform is well positioned to greatly contribute towards the fast developing fintech eco system in the GCC region,” remarked Ahmed Khizer Khan, CEO, Daman Investments.
“Daman has been an active advocate of regional start-ups for decades providing long-term support and we look forward to growing Spotii together through our strategic partnership,” commented Anuscha Iqbal, CEO, Spotii.
Spotii went live in April and currently has 30+ merchants on its platform with more being added constantly.
