{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/668024d05cd64e8b86718671/673d43c4adfcb7c92740ffb5?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Exiting, re-acquiring, and exiting again the first BNPL in MENA - with Ziyaad Ahmed","description":"<p>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.</p><p><br></p><p><strong>Keywords</strong></p><p><br></p><p>Spotii, FinTech, UAE, entrepreneurship, COVID-19, fundraising, sibling co-founders, acquisition, AI, startup ecosystem</p><p><br></p><p><strong>Takeaways</strong></p><p><br></p><ul><li>Spotii was founded to address a gap in the MENA region's payment industry.</li><li>The UAE's startup ecosystem has evolved significantly in recent years.</li><li>COVID-19 accelerated the shift towards online shopping in the region.</li><li>Fundraising in the UAE is dominated by family offices and government funds.</li><li>Sibling co-founders can leverage their trust to navigate challenges effectively.</li><li>Acquisition offers can be both flattering and strategically beneficial.</li><li>Transitioning to a capital-light business model can mitigate risks.</li><li>AI is seen as a transformative force in various industries.</li><li>Building a strong tech stack is crucial for startup success.</li><li>The journey of entrepreneurship is often filled with emotional highs and lows.</li></ul><p><br></p><p><strong>Titles</strong></p><p><br></p><ul><li>Building a FinTech Revolution in the UAE</li><li>From Employee to Entrepreneur: The Spotii Story</li><li>How COVID-19 Changed Consumer Behavior</li></ul><p><br></p><p><strong>Sound Bites</strong></p><p><br></p><p>\"This is a product that could do really well.\"</p><p>\"The UAE has made great strides over the past five years.\"</p><p>\"65% of startups will fail because of founder disagreement.\"</p><p>\"We want to build out a global BNPL platform.\"</p><p>\"It's incredibly flattering when someone wants to acquire you.\"</p><p>\"We managed to sign on Amazon, for example.\"</p><p>\"We decided to pivot the business to avoid capital requirements.\"</p><p><br></p><p><strong>Chapters</strong></p><p><br></p><p>00:00 The Founding Journey of Spotii</p><p>02:56 Navigating the UAE Startup Ecosystem</p><p>05:55 Impact of COVID-19 on Business</p><p>08:48 Fundraising Landscape in the UAE</p><p>11:56 Sibling Co-Founders: A Unique Dynamic</p><p>14:58 Acquisition Journey of Spotii</p><p>17:50 Transitioning to AI and Future Prospects</p><p><br></p>","author_name":"Sam Marchant"}