Musaab Hakami (Mala)
Overview
Musaab Hakami, known by his business alias "Mala," is the founder and CEO of Mala Inc., a fintech startup based in Saudi Arabia that provides a "Procure Now, Pay Later" (PNPL) platform for small and medium-sized enterprises (SMEs). Established in 2024, Mala aims to revolutionize business procurement by offering flexible credit terms to buyers while ensuring immediate payment to suppliers. Hakami is a prominent angel investor in the MENA region, with over 100 investments, and has played a significant role in the growth of fintech by using technology and data-driven assessments to address longstanding credit issues in Saudi Arabia.
Recent Developments
In recent years, Musaab Hakami has made significant strides with his company, Mala:
- October 2024: Mala secured $7 million in a pre-seed funding round led by VentureSouq, with participation from investors including Beco Capital, M Capital, Access Bridge Ventures, Waad Investment, and Shorooq Partners. This funding aims to facilitate Mala's upcoming launch in Saudi Arabia, focusing on offering flexible credit terms tailored to SME needs. The platform intends to leverage big data to streamline procurement and minimize the traditional reliance on relationship-based credit systems, which often lead to cash flow constraints for suppliers.
- Role Shift in 2024: Prior to founding Mala, Hakami transitioned from his role as a General Partner at VentureSouq’s fintech fund to focusing on developing and launching Mala. His experience has been pivotal in designing a platform that addresses credit gaps by providing immediate liquidity to suppliers while extending credit terms to buyers.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Musaab Hakami |
| Born | Not publicly available |
| Nationality | Saudi |
| Occupation | Entrepreneur, Angel Investor |
| Known For | Founding Mala Inc., Angel Investments |
| Net Worth | Not publicly available |
| Education | Education information not fully available |
Early Life and Education
Musaab Hakami's background and early life details are sparsely documented in public records. Information about his formative years, family background, and educational credentials is not widely available. However, it is known that his journey as an investor began early in his career, accumulating insights into the fintech industry and investment landscape of the Middle East. Given his subsequent entrepreneurial path, it can be inferred that Hakami's experiences and professional associations have significantly contributed to his role in leading a technology-driven financial enterprise.
Career and Notable Achievements
Musaab Hakami has carved a niche for himself within the fintech sector through his professional journey:
- Angel Investor: Hakami has emerged as one of the most active angel investors in the MENA region. His portfolio exceeds 100 investments across various startups.
- VentureSouq: At VentureSouq, Hakami served as a General Partner, guiding fintech investment strategies before launching Mala.
- Establishment of Mala (2024): Founded this year, Mala is set to launch its innovative platform soon, targeting SMEs and addressing procurement and payment challenges through its cutting-edge PNPL approach.
Current Work and Impact
Currently, Hakami is committed to advancing Mala Inc., focusing on its impending launch in Saudi Arabia. Mala's strategic alignment with Saudi Vision 2030 highlights its potential to significantly impact the economic landscape by introducing innovative credit solutions to SMEs. By promoting technological advancements in procurement finance, Hakami's work at Mala is expected to contribute to business ecosystem evolution, enhancing efficiency and economic fluidity in business transactions.
Conclusion
Musaab Hakami (Mala) stands as a dynamic figure in the fintech world, recognized for his innovative approach to business procurement and impactful investments in the MENA region. As Mala begins to establish itself as a pioneering force in fintech solutions, Hakami continues to lead efforts that align with wider economic reforms in Saudi Arabia. His legacy may well be defined by groundbreaking changes in credit systems and procurement processes that empower SMEs well into the future.