When the App Store launched in 2008, 500 apps were available for download; since, that number has skyrocketed to over seven million across the iOS and Android stores. This abundance of choices has led to customer fatigue and prompted serial tech entrepreneur Abdallah Abu Sheikh to develop an ultra app, a platform consolidating consumer technology services to alleviate this stress and redefine the boundaries of the digital ecosystem.
The 28-years-old Jordanian had already ventured into super app territory with Rizek, acquired in 2020 and focusing on on-demand home services. Rizek eventually achieved a total financing of $15 million in 2021, attracting investors such as Abu Dhabi holding company ADQ.
However, Abu Sheikh had even bigger plans for Astra Tech, his new technology investment and development group focused on developing a platform - the ultra app - allowing sellers and consumers around the world to directly transact with each other in a single venue, eliminating the complexity of using several apps. Far from reinventing the wheel, the ultra app leverages existing apps and technologies.
Building on Abu Sheikh’s successful track record and drive, Astra Tech grew in strategic strides, first acquiring Rizek and FinTech platform PayBy, which became its financial services arm. In December 2022, with the backing of Abu Dhabi’s artificial intelligence and cloud computing company G42, it raised $500 million in funding, making regional history with one of the biggest financing rounds for a start-up in the Middle East. A month later, it bolstered its bid to create an ultra app with the landmark acquisition of Botim, a regional VoIP platform with 90 million registered users that also offers money transfer and bills payment services. In March 2023, Astra partnered up with global payments company MasterCard to boost its digital payments services in MENA, effectively making PayBy the first FinTech organisation in the UAE to obtain a MasterCard principal membership licence. And in May, Botim 3.0 was officially launched as an ultra app, combining features such as a GPT functionality, international transfers, video services, e-commerce, and more through strategic partnerships with Fawry, Etihad Airways, MoneyGram, and others.
Recognising that many users hesitate when asked to not only adopt new technologies, but also put their trust in just one platform, Abu Sheikh says that “We have implemented mechanisms to eliminate fear and deliver a more convenient and stress-free life to our users,” ensuring data security and regulatory compliance under Article 31 of the UAE’s constitution, guaranteeing freedom of communication and confidentiality.
From super app to ultra app
Unlike super apps, which have service-based use cases that are highly operational, built on poor unit economics, and require users to adapt to new behaviours and interfaces, the ultra app builds upon existing communication patterns. “The ultra app is a game-changer in the mobile app industry, streamlining user experience and dictating better unit economics and higher user stickiness and frequency,” says Abu Sheikh who adds that, “By delivering the world’s first ultra app, we aim to simplify the way users interact, engage, and transact, paving a new way of life for millions of people worldwide.”
According to Abu Sheikh, the new and improved Botim experienced a surge in downloads and usage on a global scale and now boasts 140 million users in 150 countries. Its integration of the international money transfer feature spurred significant growth, especially during the Eid period. Botim Money, the first GPT-powered money-in-chat service, enables peer-to-peer transactions with a secure payment system and micro-lending services will be added in the future. Furthermore, Astra Tech has introduced Botim Stores, a revolutionary “conversational commerce” platform that gives users access to over 100,000 stores, and Botim GPT, an executional AI-powered service that processes transactions through conversation. The app has also integrated video services, including tutoring and telemedicine assistance, with doctors available for video consultations, prescription delivery, and patient care.
For Astra Tech, staying ahead of the market pulse, leveraging user feedback and market insights to refine its offering, is a top priority. Eventually, Abu Sheikh wants Botim to become the ultimate destination for communication, payment, and more. Envisioning an ecosystem that embraces conversational AI, executional GPTs, and data localisation, he hopes his ultra app will contribute to the region’s development driven by advancements in AI and a focus on data privacy. “We are set to continue unveiling features that enhance user experiences, aligning with our motto of ‘Simplify Everyday’,” he concludes.
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