CEO Alex Chriss told The National that PayPal’s $100 million investment pledge to support digital growth in the Middle East and Africa demonstrates the company’s long-term commitment to the area.
In a region that is adopting digital commerce, the leader in digital commerce stated on Wednesday that its commitment will boost economic growth, encourage innovation, and assist entrepreneurs. With this investment, we genuinely hope to demonstrate our sustained dedication to the area,” Mr. Chriss stated.
PayPal stated that its investment will be utilised for a variety of purposes, including acquisitions, people, technology, the company’s global corporate venturing arm, and minority investments. It anticipates that the investment will help businesses grow and expose millions of people to the digital economy. We are enthusiastic about this area because we expect a bright future for business in all of these sites,” he said.
PayPal Ventures, the company’s investment arm, has already invested $100 million in regional start-ups like Tabby, Paymob, and Stitch. It shows a more organized dedication to the area, “not just in a short burst, but over the long term,” according to Mr. Chriss.
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