Paltel Group
Rafedya Main St, Palestine, AR, 72372, United States
Overview
Paltel Group is a telecommunications company that offers local and international fixed telephony; internet, data communications, and mobile; and next generation services. Paltel Group was founded in 1995 and is based in Ramallah, Palestine.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 2
Sector focus
- Internet
- Mobile
- Mobile Apps
- Telecommunications
Investment portfolio
- Kitab Sawti
Participated · Equity · May 2019
Kitab Sawti is a Swedish-founded startup that runs what it claims is the world’s largest Arabic audiobook library. Founded in 2016 to support integration of Syrian children into Swedish society, the company is headquartered in Stockholm and has offices in Stockholm, Dubai, Cairo and Palestine. Founder and CEO Sebastian Bond said the platform has more than 1 million registered users and is seeing 20% month-on-month growth in paying users. The company has raised $6 million from Bonnier Ventures, Paltel Group and Kaaf Investments, with participation from Northzone and Abdulla Elyas. Kitab Sawti plans to deploy the funds over the next 12 to 18 months to bolster its leading position in the Arabic audiobook market. Management expects this expansion to support more than 5,000 new jobs in the industry as it scales.
Team
Sabih al-Masri
Founder and Chairman
Ammar Aker
Vice Chairman
LinkedIn