A financial technology (FinTech) company based in the Arab Gulf has set up a new telesales center in Lebanon as part of its global expansion plan.
FlexxPay is a FinTech company headquartered in the UAE and Saudi Arabia. Its online financial platform offers services to employers who allow their employees and pensioners to instantly access their earned commissions and salaries, before payday.
The new telesales center in Beirut comes as a part of a collaboration between FlexxPay and the Dubai-based software company, ZIWO Cloud Call Center.
It will help the company support sales employees of various businesses in Saudi Arabia, the UAE, and Bahrain.
“Setting up the telesales center in Lebanon is a strong empowerment for our business in addition to our existing on-ground sales staff,” Michael Truschler, FlexxPay’s CEO and co-founder, told Arab News.
It’s worth noting that Lebanon’s unfavorable economic conditions and their paralyzing effects on the banking sector have been repelling new investments.
In July 2020, months after the economic meltdown began to manifest, Lebanon received the lowest possible credit rating from the American credit rating agency, Moody’s Investors Service.
Some investors and businesses that have assets in the country have since been migrating their assets to more stable nearby countries, the most notable of which is Cyprus, as the crisis took a massive toll on their operations.
Nevertheless, some businesses and companies still choose to set up and launch in Beirut, a recent example of which is the car manufacturer Electra, which intends to establish the first electric car factory in Lebanon.