YELA receives $2M for Cameo’s replication An app to the Middle East

Cameo, which allows celebrities to send videos messages to their paying fans, is gaining popularity worldwide. The concept will soon be available in the Middle East as well as South Asia.

Tech startup YELA has secured $2 million in investment to support its launch, and will – similar to Cameo – offer users the opportunity to get close to their idols via voice, video, and direct text messages.

Justin Mateen, co-founder Tinder and General Partner at JAM Fund in the United States is leading the investment. Sean Rad (cofounder Tinder and General Partner at RAD Fund) also participates. Razmig Hovaghimian, a Board Member at Rakuten), is also able to participate in the US. Samos Fund and Ascension Ventures are also among the U.K investors. Hambro Perks Oryx Fund is also a member of this round.

The twist? YELA intends to sign big stars in the Western region but not in the West. The market isn’t small. Over 365 million Arabic-speaking people are online, and more than 65% of them are under 35. Smartphone penetration has risen to an alarming level.

Alex Eid is the CEO and cofounder of YELA. He stated that there was a lot of demand in the MENA for a premium product in the creator space.

According to him, YELA had onboarded celebrities of high profile, including Amr Diab (the multi-award winning Egyptian singer) and Haifa Wehbe (3-time Big Apple Music Award Winner), among others.

YELA launches in August 2021, with prices starting at $100

Publiated at Wednesday, 4 Aug 2021 16:39:39 +0000

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