Penny solidifies business at 24 Fintech

NOHA.GAD
Sep 8, 2024

Riyadh - Exclusive Sharikat Mubasher: Penny Software, a software-as-a-service (SaaS) procurement management company based in Saudi Arabia, concluded several deals and negotiated with potential partners during 24 Fintech to solidify its business in the market.

Speaking to Sharikat Mubasher, Co-Founder and CTO Mohammad Alibrahim revealed that the company aims to provide B2B digital payment solutions and facilitate the entire procurement process through these deals.

Penny is a B2B marketplace that provides a procure-to-pay solution, helping companies of all sizes manage their procurement and spending activities and digitize the entire procurement cycle from purchase requisitions, approvals, RFQs, RFP, RFIs, quotations, proposals gathering comparison and analysis, POs, GRN, and payments.

Regarding Penny’s expansion strategies, Alibrahim stated that the company targets creating a more dynamic community of suppliers that caters to the evolving needs of companies.

The CTO further noted that participating in 24 Fintech represents a strategic milestone for Penny Software as it repositions the company as a leader in the fintech industry.

He affirmed the company’s commitment to facilitating the procurement process between buyers and suppliers while easing the entire payment transaction.

With its enterprise software revolutionizing procurement, Penny Software’s platform digitizes and streamlines the entire source-to-pay process, enhancing spending efficiency, governance, and compliance.

24 Fintech is a premier fintech event that took place in Riyadh from 3 to 5 September with the participation of over 300 exhibitors and more than 350 investors.

It gathered regulatory bodies, policymakers, investors, technology experts, and industry leaders from around the world to discuss several topics, including, fintech regulation and governance, artificial intelligence and machine learning in financial operations, financial inclusion, cybersecurity and big data, embedded finance, and more.


Share

Related News

CEO: Orascom Construction targets growth in Saudi Arabia, UAE
News
Calendar Icon
March 27, 2025
CEO: Orascom Construction targets growth in Saudi Arabia, UAE
readmore
Alareeb Holding acquires 30% stake in Pioneer Landmarks
News
Calendar Icon
March 27, 2025
Alareeb Holding acquires 30% stake in Pioneer Landmarks
readmore
Zain KSA, Nokia launch Saudi Arabia’s 1st live Cloud RAN site
News
Calendar Icon
March 26, 2025
Zain KSA, Nokia launch Saudi Arabia’s 1st live Cloud RAN site
readmore
ACES, RANsemi partner to advance 5G Open RAN in Saudi Arabia
News
Calendar Icon
March 26, 2025
ACES, RANsemi partner to advance 5G Open RAN in Saudi Arabia
readmore
Saudi Arabia leads MENA with 86% of regional data center capacity
News
Calendar Icon
March 26, 2025
Saudi Arabia leads MENA with 86% of regional data center capacity
readmore
TMG, Alameda partner to expand healthcare services in Egypt, Saudi Arabia
News
Calendar Icon
March 26, 2025
TMG, Alameda partner to expand healthcare services in Egypt, Saudi Arabia
readmore
MRC Saudi partners with Adspective to revolutionize advertising in Kingdom
News
Calendar Icon
March 26, 2025
MRC Saudi partners with Adspective to revolutionize advertising in Kingdom
readmore
PayPal partners with Ignyte to boost UAE startups
News
Calendar Icon
March 26, 2025
PayPal partners with Ignyte to boost UAE startups
readmore
Arab African International Bank to open branch in Saudi Arabia
News
Calendar Icon
March 26, 2025
Arab African International Bank to open branch in Saudi Arabia
readmore
Tesla to launch in Saudi Arabia with Riyadh event on April 10
News
Calendar Icon
March 26, 2025
Tesla to launch in Saudi Arabia with Riyadh event on April 10
readmore