As a child growing up in Saudi Arabia, Albara Hakami was fascinated by the limitless possibilities of information technology and the Internet. Today, he is one of the most prominent representatives of a new generation of Saudi entrepreneurs who are embracing the opportunities of digital technology and transforming everyday life in their country and beyond.
Four days after graduating college in Saudi Arabia, serial entrepreneur Albara Hakami founded his first business. Seven years and several companies later and he’s just sold his latest software startup to one of the world’s largest providers of business payments.Four days after graduating college in Saudi Arabia, serial entrepreneur Albara Hakami founded his first business. Seven years and several companies later and he’s just sold his latest software startup to one of the world’s largest providers of business payments.
“I am a competitive person who always needs to be doing something new and pushing my limits,” Albara says. “I have been very lucky to work with people who share my two passions for software engineering and for challenging yourself.”
Albara launched his first two startups with university friends back in 2013, focusing on Saudi Arabia’s flourishing social media scene. One award-winning app, Feelit, was an innovative social media platform that enabled people to share their feelings and connect with each other on a more emotional, intuitive level. Another startup, Cheflr, tapped into Saudis’ love of food and cooking and signed up more than 250,000 users in just a few months.
Even at this early stage of his journey, Albara was already attracting investment from Silicon Valley. Moving to San Francisco was the natural next step for the young entrepreneur. More surprising was his choice of sector for his next venture: fintech.
“Finance wasn’t a sexy field back in 2016 and people were scared of it,” he remembers. “But when I met a couple of bright entrepreneurs, Catherine Andersen and Christian Rasmussen, who wanted to use Artificial Intelligence (AI) to automate bill payments for small- and medium-sized companies and accountancy firms, it was a new challenge I couldn’t turn down.”
“With all the reforms that are now taking place, Saudi Arabia is on track to become one of the most innovative and entrepreneurial countries in the world”
Albara Hakami, Co-founder, Roger.ai, Feelit, Cheflr
At the beginning of 2021, the co-founders sold their startup, Roger.ai, to global business payments company Fleetcor, which says the acquisition will help it transform B2B payments for small companies.
Albara, a resident of Austin, Texas, since the acquisition, remains fiercely proud of his Saudi heritage and upbringing. As a tech entrepreneur, he says he is continuously inspired by the social, economic and technological changes that are transforming his homeland.
“There is so much talent coming out of the country. We are becoming a more independent and more entrepreneurial people. We are seizing new opportunities. I can’t wait for the future.”
Q&A with Albara Hakami
What is it like being a Saudi in the US tech scene?
It is a unique experience. There are not many Saudis here but the ones I meet are always great people and we have amazing conversations. I still have a strong Saudi identity. My country and my family made me the person I am today.
How often do you go back to Riyadh?
I go home regularly and try to keep track of all the cultural and social changes that are happening in Saudi Arabia. It is exciting to see the progress being made and to see so many young people starting up new businesses. It is happening everywhere you go in Saudi Arabia. We are finally unveiling our real identity to the world and unleashing our potential.
What makes you tick as a tech entrepreneur?
I am someone who always has an itch to start something new and to challenge myself. That can be changing country, changing city or starting a new business. I need to push myself to the limit to grow as a person. I enjoy experiencing discomfort and facing challenges. It is something that inspires me and motivates me.
Was your pivot to fintech one of those challenges?
Very much so. The nature of finance is that it is something people are afraid of. If you mess up a social media platform you can fix things, but if you mess up a finance platform you can lose other people’s money. It can be scary and challenging. That’s why I loved it.
How do you feel about FleetCor’s acquisition of Roger.ai?
We completed a successful Series A investment in 2019, for around $8 million. That helped us grow our user base, build up our team and increase our profitability. The acquisition by Fleetcor will take our platform to the next level. It means that even more businesses will be able to use the AI solutions we developed to replace manual payment processes with automated payments. AI is the future of accounting.
What message do you have for other tech entrepreneurs in Saudi Arabia?
Everyone is different but what works for me and the people around me is to be a little bit crazy, a little bit brave and just follow what enjoy. Find your itch, find your inner voice and follow it.
What is next for Albara Hakami?
Wherever I am, I will continue to be entrepreneurial, to take risks, and to try to be brave when pursuing the things that I really believe in
As published in FORTUNE magazine
