Kem - About the company
Kem is a seed company based in Kuwait City (Kuwait), founded in 2021 by Seth Abal and Zane Sadeq. It operates as a Wallet-enabled payment solutions for consumers and businesses. Kem has raised $4.5M in funding from Maqamees Holdings. The company has 9 active competitors, including 2 funded and 2 that have exited. Its top competitors include companies like MoneyGram, CarePay and Payle.
Company Details
Wallet-enabled payment solutions for consumers and businesses. Enables to send, spend, and receive money by scanning QR codes, and direct payment through bank account for processing payments. Provides account security, notifications, and fraud prevention solutions.
- Website
- kemkuwait.com
- Email ID
- *****@kemkuwait.com
Key Metrics
Founded Year
2021
Location
Kuwait City, Kuwait
Stage
Seed
Total Funding
$4.5M in 2 rounds
Latest Funding Round
Investors
Ranked
5th among 9 active competitors
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Kem's funding and investors
Kem has raised a total funding of $4.5M over 2 rounds. Its first funding round was on Aug 21, 2023. Its latest funding round was a Seed round on Aug 13, 2024 for $*****. 1 investor participated in its latest round. Kem has 2 institutional investors.
Here is the list of recent funding rounds of Kem:
Date of funding | Funding Amount | Round Name | Post money valuation | Revenue multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Aug 13, 2024 | 9194957 | Seed | 4318942 | 5018243 | 4977352 | 5772634 |
Aug 21, 2023 | 1617055 | Seed | 7731296 | 3372651 | 1051526 |
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Kem's founders and board of directors
Founder? Claim ProfileHere are the details of Kem's key team members:
- Seth Abal: Co-Founder & CEO of Kem. Contact Info: 1 email address
- Zane Sadeq: Co-Founder of Kem. Contact Info: 1 email address
View details of Kem's Founder profiles and Board Members
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Kem's Competitors and alternates
Top competitors of Kem include MoneyGram, CarePay and Payle. Here is the list of Top 10 competitors of Kem, ranked by Tracxn score:
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Overall Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  MoneyGram 1940, Dallas (United States), Acquired | Wallet-enabled cross-border payment solution for consumers | - | 74/100 | |
2nd |  CarePay 2015, Amsterdam (Netherlands), Series A | Provider of a health insurance platform for global insurers | $61.8M | 55/100 | |
3rd | Provider of payment processing and online business tools for merchants | - | - | 38/100 | |
4th |  One Global 2004, Kuwait City (Kuwait), Unfunded | App-based wallet for consumer & business payments | - | - | 38/100 |
5th | Wallet-enabled payment solutions for consumers and businesses | $4.5M | 33/100 | ||
6th |  Next Payments 2012, Kuwait City (Kuwait), Deadpooled | Token-based prepaid mobile payments | - | - | 33/100 |
7th |  Payit Global 2006, Kuwait City (Kuwait), Unfunded | Provider of non-profit community radio broadcasting services | - | - | 31/100 |
8th | Online marketplace offering multi-category products | $2.2M | 30/100 | ||
9th |  AZ eWallet 2019, Kuwait City (Kuwait), Unfunded | Digital wallet for consumer payments | - | - | 23/100 |
10th | Mobile wallet for payments at stores and money transfer | - | - | 22/100 |
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Kem's Investments and acquisitions
Kem has made no investments or acquisitions yet.
Reports related to Kem
Here is the latest report on Kem's sector:
News related to Kem
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Tether invests $3 million in Kem to bolster USDT adoptionBitcoin Insider•Aug 13, 2024•Tether, Kem, Kem
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FAQs about Kem
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