Entrepreneurs in the region are still facing a challenge to get investment for their start-up companies, according to the founder and CEO of online marketplace Mini Exchange.
Speaking to Gulf Business on the back of a $3m investment round at the end of last year, Sarah Jones believes securing funds is still a hurdle for entrepreneurs looking to get their initiative off the ground.
“I do think it’s still a challenge in this region to get smart money quickly and have access to that – especially when you don’t have a proven business model,” she said.
“I think there’s probably less risk appetite here than there is in other parts of the world, with people wanting to invest more in a proven business model than in a start-up.”
Mini Exchange’s latest investment will go towards expanding into new countries including Kuwait and Qatar, launching an English and Arabic app, and growing the team which has already gone from four to 24 people in…