{"id":89720,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/"},"modified":"2024-09-17T00:00:00","modified_gmt":"2024-09-17T00:00:00","slug":"pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/","title":{"rendered":"Pilgrim financing fintech UmrahCash lands USD 500k investment"},"content":{"rendered":"

F<\/strong>intech startup UmrahCash secured a USD 500k investment from<\/strong> Singapore-based VC and accelerator <\/strong>Adaverse<\/a><\/strong>, according to a press release<\/a>. <\/p>\n

Where the money is going:<\/strong> The homegrown currency-exchange app (Google Play<\/a>) will use the proceeds to expand its operations and boost its offerings at key pilgrimage sites Mecca, Medina, and Jeddah. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/a> <\/p>\n

About UmrahCash: <\/strong>Established in 2024 by William Phelps (LinkedIn<\/a>), UmrahCash gives pilgrims an online prepay option to put down money in their local currency and seamlessly collect SAR upon arriving in Saudi to streamline currency exchange for religious tourism. UmraCash links liquidity providers, agents, and pilgrims providing thorough FX solutions to pilgrims. The app is geared primarily towards visitors from emerging countries such as Pakistan and Nigeria, which must first convert their national currencies to USD before exchanging for SAR when they arrive at the Kingdom. <\/p>\n","protected":false},"excerpt":{"rendered":"

Proceeds will be used to expand operations at pilgrimage sites<\/p>\n","protected":false},"author":1,"featured_media":89721,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[317,10,179,3097],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-adaverse","tag-enterpriseam-ksa","tag-startup-watch","tag-umrahcash","wpautop","entry"],"acf":{"mongo_id":"04ed3639-39fa-4e46-b890-be722b545254","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/853.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Pilgrim financing fintech UmrahCash lands USD 500k boost","related_issue":[89707],"teaser":"Proceeds will be used to expand operations at pilgrimage sites","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.fdf8fe55-59b2-4630-a29e-d47d560c6130.mp3"},"yoast_head":"\nPilgrim financing fintech UmrahCash lands USD 500k investment - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pilgrim financing fintech UmrahCash lands USD 500k investment\" \/>\n<meta property=\"og:description\" content=\"Proceeds will be used to expand operations at pilgrimage sites\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-17T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/853.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Pilgrim financing fintech UmrahCash lands USD 500k investment\",\"datePublished\":\"2024-09-17T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\"},\"wordCount\":165,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/853.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Adaverse\",\"EnterpriseAM KSA\",\"STARTUP WATCH\",\"UmrahCash\"],\"articleSection\":[\"STARTUP WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pilgrim-financing-fintech-umrahcash-lands-usd-500k-investment\/\",\"name\":\"Pilgrim financing fintech UmrahCash lands USD 500k investment - 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