finance & economy

Student startup creates crowdfunding platform ‘Semsar’

May 9, 2022

Muscat – Eleven Omani students have created the first Omani platform to facilitate crowdfunding and help entrepreneurs and businesses to source investments.

Named Semsar, the startup by students of University of Technology and Applied Sciences in Sohar, was recently showcased at the Injaz Oman exhibition.

Ibtihal al Yahmadiyah, one of the members of the startup, informed that the platform aims to create an environment suitable for investment and facilitate the investment process, linking entrepreneurs and investors in an easy and smooth manner.

“Semsar operates on a crowdfunding system that was approved in Oman in November 2021,” Ibtihal said.

She described it as the first Omani platform facilitating crowdfunding with an all-Omani staff and management team. “Semsar provides strong support for sourcing funds and works in several fields, including biotechnology, artificial intelligence, finance, entertainment, industry, retail, logistics, healthcare, education, commercial technology and hospitality.”

The platform targets entrepreneurs looking to raise capital, investors who want to put their money in successful projects, as well as jobseekers eager to work in the field of investment and entrepreneurship.

“The platform will soon be available on mobile phones, and the process of completing investment operations will be 100 per cent electronic without human intervention. We are also working on being a finance source for commercial projects in Oman and the other Gulf countries,” Ibtihal said.

muscatdaily

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