From designing buildings to building businesses, Saudi entrepreneur Yara Ghouth has charted an inspiring path fueled by passion, perseverance, and the belief that action trumps perfection. With a background in architecture, Ghouth has successfully launched two distinct ventures, culminating in her current role as the co-founder and Chief Commercial Officer of the fintech startup Nqoodlet, which recently secured a $3 million funding round.
From Architecture To Entrepreneurship
Holding a Bachelor’s degree in Architecture from the University of Nottingham in the UK, Yara Ghouth’s foundational skills were in analysis, design, and construction. However, her true calling was in entrepreneurship, driven by a desire to build ideas into tangible realities that solve real-world problems. This ambition led her to pivot from her academic path and dive into the startup world, a transition she admits was fear-inducing but ultimately motivating. Her journey was supported by family, expert mentors, and several international business programs, including a fellowship with the Atlantic Council’s EmpowerME and Georgetown University.
Digitizing The Traditional Textile Market
Ghouth’s first major entrepreneurial endeavor was Souq Naseej, an e-commerce platform designed to modernize the traditional fabric and fashion market in Saudi Arabia. The idea stemmed from identifying a market need for a professional digital platform to connect fabric manufacturers, suppliers, and artisans with designers and end-consumers. Souq Naseej served as Ghouth’s practical business education, where she learned firsthand about building a venture from scratch, managing teams, navigating financial and operational hurdles, and the importance of resilience in the face of failure.
Building A Fintech Powerhouse
In 2021, Ghouth co-founded Nqoodlet, a financial platform specializing in expense and cash management solutions for small and medium-sized enterprises (SMEs). The company provides smart systems to help businesses control expenditures, streamline financial management, and simplify payments and reporting. By offering smart payment cards and real-time financial dashboards integrated with banking and accounting systems through Open Banking technology, Nqoodlet gives business owners clear, secure, and transparent control over their financial resources. The venture’s success in addressing a critical market need was validated by its ability to raise $3 million from investors focused on the fintech sector.
Overcoming The Founder’s Journey
Ghouth is candid about the challenges faced by entrepreneurs, citing the management of psychological pressure, making high-stakes decisions, and securing initial funding as some of the largest hurdles. She credits her ability to overcome these obstacles to patience, persistence, and building the right team. Her advice to aspiring founders is direct: “Do not let fear control you at the beginning, even if the picture is not complete, because the courage to start is more important than perfection.” Ghouth also champions a greater role for women in the entrepreneurial ecosystem, advocating for more programs and policies that provide equitable opportunities and access to funding for female founders.
About Nqoodlet
Nqoodlet is a fintech company that provides a comprehensive financial platform for SMEs, offering solutions for expense management, smart payment cards, and integrated financial reporting. By leveraging Open Banking, the platform helps businesses gain transparent and efficient control over their financial operations.
Source: Arrajol
