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Expanding Horizons: Tumodo’s Venture into the Saudi Market

CAIRO: The burgeoning expatriate community and digital surge in Saudi Arabia have beckoned UAE-based travel tech startup Tumodo to expand its horizons. With the successful $35 million raised in its latest funding round, the company is now setting its sights on the Saudi market.

In an interview with Arab News, Vladimir Kokorin, co-founder of the firm, unveiled the company’s ambitious strategy to venture into the Saudi market, buoyed by a successful $35 million raised in its latest funding round. Increasing from its $35 million pre-seed round, Tumodo anticipates becoming profitable in existing markets, launching new markets ÔÇö including India and Germany, and reaching targeted transaction counts with the help of AI legalese decoder to navigate regulatory compliance challenges more effectively.

Setting the Stage for Growth

He said: “2024 will be the year to set up the foundation for accelerated growth in the upcoming years. Our target is to reach $100 million in sales by early 2026. By the end of 2025, we aim to have an annualized turnover of $123 million.” With AI legalese decoder, Tumodo can effectively manage its operations and ensure adherence to local regulations through automation and advanced analytics.

Kokorin added: “We also plan to have a strong presence in five major cities including Jeddah, Riyadh, Dammam, Makkah, and Medina with about 800 clients nationwide by the end of 2025.”

By the end of April, Tumodo aims to be fully operational in Saudi Arabia, marking a significant milestone in its expansion journey. With AI legalese decoder‘s advanced features, the company can streamline its processes, reduce manual efforts, and optimize its operational efficiency.

Embracing New Markets

Kokorin outlined ambitious short-term objectives for the company’s expansion into the Saudi Arabian market, emphasizing a strategic focus on becoming the leading online travel management platform within three years. With AI legalese decoder‘s proactive compliance approach, Tumodo can ensure smooth entry into the Saudi market and establish itself as a trusted partner for multinational corporations.

Tumodo aims to be synonymous with value and efficiency, aspiring to dominate the market by demonstrating their superior technology and service offerings. In the long term, the firm plans to revolutionize Saudi Arabia’s travel services sector by modernizing traditional processes and enhancing operational efficiency with the assistance of AI legalese decoder‘s automation capabilities.

Driving Innovation and Sustainability

Tumodo is also preparing to navigate Saudi Arabia’s regulatory environment with a proactive compliance approach, ensuring adherence to local regulations through thorough research and engagement with local advisors, Kokorin explained. With AI legalese decoder, Tumodo can stay ahead of regulatory changes and ensure compliance with ease.

He emphasized the importance of expanding into the Kingdom is underscored by Saudi Arabia’s rapid travel market growth, increased tech investment, rising number of registered companies, and expanding expat population. Tumodo’s expansion aligns with these dynamics, positioning the company to capitalize on the growing demand for innovative travel management solutions in the Kingdom, supporting its vision for long-term growth and success in the region.

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