Play:Date, a Dubai-based interactive platform that helps parents build their children’s social circle, plans to expand its services globally after raising $250,000 (Dh917,500) in its latest funding round.
The round was led by a New York-based venture capital firm Modus Capital that specialises in assisting entrepreneurs in building transformational businesses.
“The opportunity to work with Modus Capital poses exciting expansion opportunities for Play:Date,” said Shamim Kassibawi, founder and chief executive of the start-up that was founded in March 2017.
“We decided to work with them as they are not your typical venture capitalists that are solely focused on investing … instead they actively assist entrepreneurs by supporting with strategies and high-growth prospects.”
With more than 3,500 members, the start-up allows users to choose where and when their children can play, what their interests are and also find a like-minded friend they can go on a play date with.
It helps parents "to engage with each other based on the interests and personalities of their children", the company said. The app is currently available in on both iOS and Android operating systems in the UAE and US.
The latest round of funding will support the company to expand its presence in the Middle East and enter new markets, the company said.
Modus Capital will also provide Play:Date technical help, management, investor relations and overall leadership support to become globally competitive.
“We are ecstatic to add Play:Date to our portfolio and support them in their next stage of growth and international expansion,” said Kareem Elsirafy, managing partner at Modus Capital that has its offices in New York, Los Angeles and Cairo.
“They are tackling a major connectivity and discovery pain-point for parents that has demand in both Mena and [the] US markets … and they are doing [it] in the most innovative ways,” Mr Elsirafy said.
Play:Date platform promises to build a child’s social circle, while also offering discounts and deals through partner companies, such as Kids HQ and SugarMoo.
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
