As of August 2018, Qatari residents, banking professionals and businesses are finally able to clearly define their financial opportunities, access and compare the full list of benefits associated with credit cards, loans, accounts or deposits. All thanks to Qaren Qatar - a first search and comparison engine dedicated only to Qatar and its entire banking sector. Qaren.qa is the most advanced and precise platform on the market offering unparalleled set of tools and analytical data to find information about retail and corporate banking products available in Qatar.
For the past 30 years, an average banking customer in Qatar when planning next financial decision did not have one single source, software or portal that would allow him to effectively compare and choose the best available offers on the market. That’s why a unique Qaren Qatar platform has been developed, to provide its users with advanced and comprehensive comparison module that calculates and lists banking products based on their preferences & benefits.
Qaren.qa will create a tremendous value to its users enabling them to eliminate costly mistakes and improve effectiveness in making the right financial choice which will result in significant money saving. What’s more, Qatari Banks will hugely benefit in revenue increase by listing and promoting its products on our platform, improve the ability to reach more customers and reduce its advertising expenses.
For the first time in history, every banking customer in Qatar will be able to use just one source to find and precisely compare all available products based on various preferences. After gathering feedback from the banking professionals, local media and Qatari residents we have identified enormous demand for this type of service. Market segmentation and numerous indications present great business opportunity for qaren.qa to become the best source for comparing financial products in Qatar.
At present there is not a single comparison website based in Qatar, and only two competitors in the entire Gulf States region that compare banking products of Qatari banks: Yallacompare.com and Souqalmal.com based in Saudi Arabia and United Arab Emirates. Based on our in-depth analysis, we have identified several competitive advantages that make Qaren Qatar more effective, more comprehensive and much more precise tool than any similar platforms in the Gulf States. Qaren’s comparator module is much more advanced and it collects 5 times more data than our competitors’, allowing us to provide the user with more accurate results. Unlike Yallacompare & Souqalmal, our platform is the only map-based advanced search engine for bank branches and ATMs covering all of Qatar, and allowing users to locate specific bank using pre-selected criteria. Qaren Qatar is also a first and only financial comparison website on the market with Benefit Finder feature enabling banks’ customers to choose the potential benefits by category and sorting & filtering results.
We are going to generate revenue from direct cooperation with our primary customers – the banks, and from third party companies to which we’ll offer promotions and advertising opportunities at qaren.qa. Banks will be able to use selected tools, promotions and advertising packages resulting in direct declaration of the financial obligation to our company. External companies co-operating with banks and banking sector will be also one of our revenue streams in return for providing advertising options on our portal. In the first stage of investment, the main source of profit is based on the FREEMIUM model. This model has a high likelihood of profitability because of a direct approach to client.
The team of Createll comprises of very experienced, passionate and uniquely qualified professionals with a long history of positive integration in industry and product engineering, to guarantee this startup a huge success. Our organization works with skilled engineers, scientists, programmers and designers who create and implement technological innovations. All members are specialists in the fields of project management, IT, product engineering, business management, marketing and entrepreneurship. We know how to effectively move from the initial concept strategy to product launch and development. Createll has successfully completed various campaigns and projects for such prestigious brands as Reiffeisen, Toshiba, Ferrero. Our team has already completed product development and design phase, and the website has been tested and officially launched in August 2018.
We have gained major foothold among Head of Marketing departments of all major Qatari banks and more than 50% of the banks have expressed early interest in advertising their products at qaren.qa. The project and its team are currently ready for an immediate major expansion into Qatari market.
We are currently seeking a QAR 3mln Series A capital investment for the period of 3-4 years at the monthly contribution of QAR 30,000 that will give us the financial flexibility to operate and maintain a small team, expand our sales and marketing efforts, and cover the costs of future advertising campaigns for the platform.