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Eye of Riyadh
Business & Money | Thursday 16 May, 2024 1:51 pm |

Metric Joins Forces with 500 Global to Fuel SME Growth across the GCC

 Metric, a global financial intelligence and analytics platform built for small and medium-sized businesses (SMBs), has been backed by the 500 Global program through the Sanabil 500 Mena Seed fund. This support underlines Metric's commitment to fostering the burgeoning SME sector in Saudi Arabia, and the push towards digitization for businesses.


500 Global, a highly renowned multi-stage venture capital firm with $2.4B in assets under the trailblazing leadership of Amal Dokhan, the newly appointed Managing Partner for MENA, who has spearheaded phenomenal initiatives such as the Sanabil 500 MENA Seed Accelerator program, solidifying the startup's commitment to fostering innovation and funding top talent in the region. 500 Global has a strong presence globally, having backed over 5,000 founders in 80+ countries, and a focus on high-growth startups with investments in over 35+ billion-dollar companies.


"We are incredibly excited to be on this journey with 500 Sanabil," said Meenah Tariq, CEO of Metric. "Our mission and values are deeply aligned. Our cause is that of entrepreneurship and, together, we aim to help build a vibrant ecosystem of SMEs across the GCC, and the world”. 


Metric is the world’s most founder friendly financial intelligence and analytics app. It helps business owners directly keep a close eye on the health of their business, and take data-driven decisions daily, with more than 130,000 businesses in 190 countries. Their focus on GCC and their expansion regionally aligns with the region’s economic transformation. With over 10,000 businesses leveraging Metric's platform across the GCC, including a significant number in UAE and Saudi Arabia, the company is well-positioned to support the rapid digitization of SMEs regionally.


"Metric's AI-powered financial management solutions will be instrumental in helping GCC SMEs make data-driven decisions, optimize operations, and achieve sustainable growth," said Omar Parvez Khan - CPO and Co-founder of Metric. "It's time for business owners to leverage real-time data and sectoral trends to make informed decisions, rather than relying solely on gut feel."


Metric's user-friendly app provides real-time financial insights, eliminating the fear of data that often hinders SMEs. The platform seamlessly integrates with popular accounting software and local banks, allowing for automated data entry and focusing on core business activities.


"With AI-powered insights, business owners will be able to look at their data in ways they could never before. ”, said Dr. Habiba - Metric’s CTO. “Built on top of $3B worth of proprietary transactional data, our AI agent, Max, enables business owners to make better decisions by understanding internal and external patterns, and identifying growth opportunities."


Metric is actively building a collaborative ecosystem to support Saudi SMEs. Localizations are being rolled out quickly, with custom Arabic invoicing, reports, and integrations already available within the app. 


"We are here to innovate, support, and transform how small businesses grow. By empowering businesses to leverage data as an asset, Metric stands as a key ally in driving the Kingdom's economic transformation” concludes Tariq.


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