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How a meet to explore ideas Turned into a $3M Peer-to-Peer Payment Startup In February 2022, George Chichua, a Russian venture investor, left for a ski trip in Georgia. He had no idea that a geopolitical crisis would completely alter his life. As the conflict erupted in Ukraine, George decided not to return to Moscow. Meanwhile, Mikhail Arzumanov, a former tech lead at Russia’s Tochka Bank, was searching for new opportunities. George reached out to his old friends Seth & Zane Sadeq in Kuwait. In March, the four met there to explore business ideas. And inspiration struck. They realized the region lacked fast and efficient payment solutions. Seth and Zane, who had studied at the University of Southern California, saw an opportunity to bring US-style digital payments to the GCC. That day, they decided to build Kuwait’s one of the first peer-to-peer payment system. 🚀 But it wasn’t easy. The team had to navigate strict regulations, negotiate with banks, and gain approval from the Central Bank of Kuwait. Mikhail brought in top-tier developers from Russia, while Seth and Zane leveraged local connections to push things forward. By May 2023, Kem was live—allowing instant money transfers via QR codes. Within months: ✅ 350% increase in transaction volume ✅ 250% month-over-month growth in users ✅ $3M investment from Tether in August 2024 Today, Kem is revolutionizing payments in Kuwait and planning to expand into Saudi Arabia. So, what can you learn from this? 1️⃣ Opportunities arise in unexpected places – A casual trip turned into a multi-million dollar startup. Stay open to new ideas. 2️⃣ Regulations aren’t roadblocks, they’re puzzles – Instead of avoiding tough compliance work, tackle it head-on like Kem did. 3️⃣ Strong teams win big – They had the perfect blend: a tech leader, an investor, and founders with market insight. Find your A-team. 4️⃣ Speed matters – The team launched in just a year because they moved fast, tested quickly, and adapted rapidly. Great businesses don’t just happen. They come from seeing gaps, taking action, and executing relentlessly. 🔥 Want more business insights like this? Subscribe to my newsletter through the link in the comments.