Iyad Aldalooj, CEO of Penny Software and Ex-Careem exec, talks entrepreneurship, tech, and more

2024-10-09

Iyad Aldalooj started Penny Software after serving as an executive for Careem, the mobility startup which exited for $3 billion to Uber Technologies. Penny is now one of the Kingdom's fastest-growing startups with SAR 1 billion in transactions in 2023 and customers worldwide. In an exclusive interview and conversation with hosts Hanaa Almoaibed and Lucien Zeigler, Iyad shares his journey, which begins in the Eastern Province in Saudi Arabia. After studying at the University of Nebraska in the United States, he fell in love with entrepreneurship. When he moved back...

Iyad Aldalooj started Penny Software after serving as an executive for Careem, the mobility startup which exited for $3 billion to Uber Technologies.

Penny is now one of the Kingdom's fastest-growing startups with SAR 1 billion in transactions in 2023 and customers worldwide. In an exclusive interview and conversation with hosts Hanaa Almoaibed and Lucien Zeigler, Iyad shares his journey, which begins in the Eastern Province in Saudi Arabia. After studying at the University of Nebraska in the United States, he fell in love with entrepreneurship. When he moved back to the Kingdom, he joined Careem, where he was an executive when the company exited. He then became one of the inaugural members of the Saudi Leadership Society and the Misk 2030 Leaders Program. Now, with the venture-backed Penny Software, he tells Lucien and Hanaa that despite his early success with Penny, he's committed building a solution for the long run while contributing to the prosperity of Saudi Arabia's Vision 2030 and its drive to create a technology ecosystem from the ground-up. The transformation happening in the Kingdom has changed the mindset of Saudi Arabia's tech-enabled youth, creating a vibrant landscape for disruptive technologies to thrive. Iyad shares his journey and experiences to-date, his stories of success and challenges with venture capital fundraising in Saudi Arabia, and much more with The TWENTY30 in this exclusive interview and conversation.

After the conversation with Iyad, Hanaa and Lucien catch up on some of the latest news from Saudi Arabia.

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