Kuwait Fintech Startup Kem Raises $1 Million Pre-Seed

Kuwaiti instant payment services platform, Kem, has successfully closed a $1 million investment round, spearheaded by Maqamees Holdings and featuring participation from international investors.

Founded in 2021 by Seth and Zane Sadeq, along with George Chichua, Kem offers instant payment services through its digital application, facilitating secure money transfers via QR codes without the need for payment links or IBAN codes.

The newly acquired funding will be channeled towards enhancing the application and expanding Kem's footprint into fresh markets within the Gulf Cooperation Council region.