(Video) IV Holdings Funds e-Payment Hub Startup Gate2Play

13 May, 2010

E-commerce is an old school in USA, but in the Arab world it did not really take off for many reasons starting with credit cards are not common to borders and customs between Arab countries that complicate issues further.

And because of that, solving a problem in this sector might get you funded as Gate2Play has officially received the first round of funding from the most active Venture Capital firm in the region IV Holdings.

To fill the gap, a number of startups and companies provided prepaid cards starting with Jabbar’s CashU and Onecard. Visa and MasterCard partnered with several local banks to issue their own prepaid cards

Jordanian entrepreneur Muhannad Ebwini an ex-Maktoobian and GM of onecard cofounded Gaet2Play to consolidate the e-payment situation in the region. As Gate2Play will enable merchants to use its hub to process any of its e-paymnet partners. Making it more easy for merchants and driving more business for e-payment providers.

Muhannad told ArabCrunch that Gate2Play signed with many merchants, payment gateways in the region and expect to launch its in June this year. Here is my Video Interview I made with Muhannad during Arabnet conf in lebanon where he explained the e-payment situation in the region with more details and  his startup business model. ( He disclosed the funding round in the video so the news is not breaking since it was recoded around 1 month ago but it is exclusive to AC 🙂 )

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  1. demon  |  May 13th, 2010 at 9:05 AM #

    the interviewer is so incompetent! i think he has no idea what’s going on!

  2. Hanan Khader  |  May 13th, 2010 at 11:38 AM #

    Well, I am interested to know in cases that there are too many parties investing/contributing in a company, is that healthy? is it easy to manage and to communicate? In terms of shares also, will it be something sufficient for the entrepreneur at the end?

  3. fatin khwarizmi  |  May 13th, 2010 at 1:04 PM #

    “Well, I am interested to know in cases that there are too many parties investing/contributing in a company, is that healthy?”

    yes Hanan , it is healthy as long as the agreement are clear upon all parties and understand by all, also if any party want to exit / cancel the agreement or investment, it won’t effect the other parties DEPENDING on the agreement itself which will decide the investing/contributing in a company of its future.

    “is it easy to manage and to communicate? ”

    it’s easy to manage WHAT & to communicate with WHOM ?! who ever was, if that person has the scales mentioned above plus a confidential (A BOSS !) the rest will be just a routine, & it is he/she will make it easy or not.

    “In terms of shares also, will it be something sufficient for the entrepreneur at the end?”

    systematically , the shares is a large world itself ! for example , did you followed what happened in the stock market last week ?! 1000- points or 10% went down in seconds, as so many analysis say (FREEFALL). What ever was the shares it will be success or a failure among all the parties efforts.

  4. Gaith Saqer  |  May 13th, 2010 at 3:09 PM #

    I second Fatin’s answer,

    Yes it is better to have more investors in the company, usually when a startup gets a round of funding many investors join the round to mitigate the risk. the shares the investors get depends in the valuation of the company. usually there will be a board who meets usually every quarter to get updates about the company. As for the entrepreneur it is better for him/her to have an execution partner. other wise you will be hitting your head alone 😛 when you have a partner who you trust he will help you out and stand with you when needed at least emotionally. investors usually do not interfere in the day to day business, so care more about numbers and stats.

    @as for Mr Demon do you know what is going on, maybe you enlighten us 😀

  5. ayhaab  |  May 21st, 2010 at 8:39 PM #

    I heared that gate2play is goint or did a contract with filspay payment gateway to cover some arab countries and malaysia . good luck guys

  6. Online Gaming in The Arab World and Middle East - ArabCrunch  |  August 28th, 2010 at 1:53 AM #

    […] Gate2play is also a new payment hub that should be launching soon which will hopefully help online gaming publishers to consolidate their payments in one location. […]

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