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The National
15-07-2025
- Business
- The National
My Dubai Salary: ‘I did not take a salary for seven and a half years as a tech start-up founder'
Sophie Smith recalls how she decided to never be financially dependent on anyone while growing up in the UK. However, as the founder and chief executive of Nabta Health, a UAE-based healthcare platform for women, she has not drawn a salary in all but several months over the past eight years. As her company is fully backed by angel investors, the Briton, 36, does not feel comfortable receiving monthly pay and instead takes an incentive every quarter. She's currently financially dependent on her husband since moving to Dubai in 2016. Before founding Nabta Health, Ms Smith owned four companies in three years – a doctor-finding, appointment-booking platform in Pakistan, a plastic recycling company in Sierra Leone, a health tech consultancy and a software development company, both in the UK. Nabta Health combines digital and traditional health care to offer preventive care to women. 'Our platform supports in diagnosing chronic health conditions and navigating specific stages as a woman, for example, support with fertility and family planning, after birth, and menopause,' she says. 'To date, my company has been entirely backed by angel investors. We have 68 angel investors in total, most of whom invested through special purpose vehicles, but with investments ranging from $1,000 up to $1 million.' The company has raised $4 million to date and opened a pre-series A funding round of $6 million to expand the platform and acquire new clinics in the UAE. Ms Smith lives with her four children and husband, a lawyer, in a villa in Al Barsha South. She has an MA Cantab (masters in history) from the University of Cambridge and an MBA from the Quantic School of Business and Technology. What was your first job and salary? I started as an analyst with Accenture and worked there for four years before leaving to found my first company. I started on a salary of £32,000 ($43,348) per year and it came with a golden handshake of £5,000, which felt like an absolute fortune for a new graduate in 2010. I was promoted to consultant after 14 months and was on track to be promoted to manager when I quit. I left because I wanted to chart my own growth curve. I had put part of my salary into Accenture's stock programme and by the time I left, I had about £25,000 saved. I took that money and put it into my first company, a health tech consultancy. What is your salary now? When I started work on Nabta Health, I closed down the businesses I had in the UK and was dependent on my husband and the salary he was drawing from his new job in Dubai in 2017. Nabta was self-funded in very small parts by me and my founding investor, to the tune of $92,000 over 15 to 18 months. Since we have raised capital in non-traditional ways, we've never had a significant amount of runway, and I have never felt comfortable with the notion of taking a salary because the company needs the money. I didn't take a salary for the first seven-and-a-half years of Nabta's life until we'd achieved product-market fit in July 2024. I attached myself to the company as the general manager and started to take a salary of Dh33,300 ($9,067) per month after we closed our first $1 million investment, plus an additional Dh12,200 per month which accrues and is paid out quarterly only if we hit our revenue targets. I took the salary for two months before reverting to 100 per cent accrual to support our runway. Not taking a salary has placed a huge financial strain on our family. When we came to the UAE, we had no children and now we have four. Our costs as a family have increased 300 per cent. Do you manage to save and invest? I had savings before I started my first business. But since then, I've put every penny into my companies. I have a small cryptocurrency account, a couple of savings accounts and a few investments in different start-ups that are mostly through sweat equity. I'm a firm believer in having a diversified portfolio of investments and putting your capital to work, especially as a woman. If I had more liquidity, I'd have a more structured investment portfolio. I would also invest into stocks, bonds and safer and more traditional asset classes. I hope to be able to invest in real estate at some point. In the next couple of years as Nabta continues to grow and stabilise us financially, when I'll be able to start taking a regular salary, I hope to put aside probably 10 per cent of that every month to invest into different asset classes. Do you have any debt? We have a couple of credit cards as a family and try to pay them off every month. At different points over the years, we have ended up taking out loans, usually secured against my husband's salary. Within the business, I've taken debt at various points. Growing up, were you taught how to handle your finances? I was not. My father was the sole breadwinner in a house with eight children and he took quite a lot of risks. He co-founded four schools, so he remortgaged our house to support these schools. He managed his finances very closely, but on the flip side, he gave my mom a hard time about money. Growing up, I remember thinking that I'm never going to be financially dependent on anybody. It was one of the reasons why I was so determined to start my own business. What are your major monthly expenses? Rent and school fees. My personal expenses and company overheads are separate. If my husband and I end up covering any of Nabta's expenses, which has occurred when cash flow has been tight, those are rigorously documented and paid back when the company can afford it. Do you have an emergency fund? Yes, our family's emergency fund can sustain us for three months. What do you spend your disposable income on? I spend it on things to manage my health. I take dancing lessons, run, get regular massages and buy new sports equipment every now and then. I also see a Chinese energetics practitioner once a quarter. Watch: Why expat salary packages are not what they used to be Do you worry about money? I worry a lot about money in the context of the company, specifically making payroll and the implications of financial instability of everybody we employ because I am their support system. In the context of my family, I worry about money less because of a very strong support base in the UK. If anything were to happen, we could go back and stay with my family for however long it takes us to normalise. What are your financial goals? Financial sustainability for the company, first and foremost. And then I would like to get to a position where I could sustain my family as a sole breadwinner. I never intended to be in a position where I was financially dependent on somebody. Everybody should enter adult life assuming they can be financially independent. There are all sorts of hidden power dynamics associated with money. In an increasingly volatile world, entering the workforce and adulthood on an even footing is a good thing. What is your idea of financial freedom? To be in a position where you aren't actively worrying about surviving day to day, either in a professional or personal context. I want my company to be able to capitalise on growth opportunities to hire the right people and pay them good money to create financial stability.
The National
15-07-2025
- Business
- The National
My Dubai Salary: ‘I don't take a monthly wage but earn incentives every quarter as a tech start-up founder'
Sophie Smith recalls how she decided to never be financially dependent on anyone while growing up in the UK. However, as the founder and chief executive of Nabta Health, a UAE-based healthcare platform for women, she has not drawn a salary in all but several months over the past eight years. As her company is fully backed by angel investors, the Briton, 36, does not feel comfortable receiving monthly pay and instead takes an incentive every quarter. She's currently financially dependent on her husband since moving to Dubai in 2016. Before founding Nabta Health, Ms Smith owned four companies in three years – a doctor-finding, appointment-booking platform in Pakistan, a plastic recycling company in Sierra Leone, a health tech consultancy and a software development company, both in the UK. Nabta Health combines digital and traditional health care to offer preventive care to women. 'Our platform supports in diagnosing chronic health conditions and navigating specific stages as a woman, for example, support with fertility and family planning, after birth, and menopause,' she says. 'To date, my company has been entirely backed by angel investors. We have 68 angel investors in total, most of whom invested through special purpose vehicles, but with investments ranging from $1,000 up to $1 million.' The company has raised $4 million to date and opened a pre-series A funding round of $6 million to expand the platform and acquire new clinics in the UAE. Ms Smith lives with her four children and husband, a lawyer, in a villa in Al Barsha South. She has an MA Cantab (masters in history) from the University of Cambridge and an MBA from the Quantic School of Business and Technology. What was your first job and salary? I started as an analyst with Accenture and worked there for four years before leaving to found my first company. I started on a salary of £32,000 ($43,348) per year and it came with a golden handshake of £5,000, which felt like an absolute fortune for a new graduate in 2010. I was promoted to consultant after 14 months and was on track to be promoted to manager when I quit. I left because I wanted to chart my own growth curve. I had put part of my salary into Accenture's stock programme and by the time I left, I had about £25,000 saved. I took that money and put it into my first company, a health tech consultancy. What is your salary now? When I started work on Nabta Health, I closed down the businesses I had in the UK and was dependent on my husband and the salary he was drawing from his new job in Dubai in 2017. Nabta was self-funded in very small parts by me and my founding investor, to the tune of $92,000 over 15 to 18 months. Since we have raised capital in non-traditional ways, we've never had a significant amount of runway, and I have never felt comfortable with the notion of taking a salary because the company needs the money. I didn't take a salary for the first seven-and-a-half years of Nabta's life until we'd achieved product-market fit in July 2024. I attached myself to the company as the general manager and started to take a salary of Dh33,300 ($9,067) per month after we closed our first $1 million investment, plus an additional Dh12,200 per month which accrues and is paid out quarterly only if we hit our revenue targets. I took the salary for two months before reverting to 100 per cent accrual to support our runway. Not taking a salary has placed a huge financial strain on our family. When we came to the UAE, we had no children and now we have four. Our costs as a family have increased 300 per cent. Do you manage to save and invest? I had savings before I started my first business. But since then, I've put every penny into my companies. I have a small cryptocurrency account, a couple of savings accounts and a few investments in different start-ups that are mostly through sweat equity. I'm a firm believer in having a diversified portfolio of investments and putting your capital to work, especially as a woman. If I had more liquidity, I'd have a more structured investment portfolio. I would also invest into stocks, bonds and safer and more traditional asset classes. I hope to be able to invest in real estate at some point. In the next couple of years as Nabta continues to grow and stabilise us financially, when I'll be able to start taking a regular salary, I hope to put aside probably 10 per cent of that every month to invest into different asset classes. Do you have any debt? We have a couple of credit cards as a family and try to pay them off every month. At different points over the years, we have ended up taking out loans, usually secured against my husband's salary. Within the business, I've taken debt at various points. Growing up, were you taught how to handle your finances? I was not. My father was the sole breadwinner in a house with eight children and he took quite a lot of risks. He co-founded four schools, so he remortgaged our house to support these schools. He managed his finances very closely, but on the flip side, he gave my mom a hard time about money. Growing up, I remember thinking that I'm never going to be financially dependent on anybody. It was one of the reasons why I was so determined to start my own business. What are your major monthly expenses? Rent and school fees. My personal expenses and company overheads are separate. If my husband and I end up covering any of Nabta's expenses, which has occurred when cash flow has been tight, those are rigorously documented and paid back when the company can afford it. Do you have an emergency fund? Yes, our family's emergency fund can sustain us for three months. What do you spend your disposable income on? I spend it on things to manage my health. I take dancing lessons, run, get regular massages and buy new sports equipment every now and then. I also see a Chinese energetics practitioner once a quarter. Watch: Why expat salary packages are not what they used to be Do you worry about money? I worry a lot about money in the context of the company, specifically making payroll and the implications of financial instability of everybody we employ because I am their support system. In the context of my family, I worry about money less because of a very strong support base in the UK. If anything were to happen, we could go back and stay with my family for however long it takes us to normalise. What are your financial goals? Financial sustainability for the company, first and foremost. And then I would like to get to a position where I could sustain my family as a sole breadwinner. I never intended to be in a position where I was financially dependent on somebody. Everybody should enter adult life assuming they can be financially independent. There are all sorts of hidden power dynamics associated with money. In an increasingly volatile world, entering the workforce and adulthood on an even footing is a good thing. What is your idea of financial freedom? To be in a position where you aren't actively worrying about surviving day to day, either in a professional or personal context. I want my company to be able to capitalise on growth opportunities to hire the right people and pay them good money to create financial stability.
Entrepreneur
09-06-2025
- Business
- Entrepreneur
Kosmc AI Secures $200,000 Pre-Seed Round to Bridge Gap Creators and Commerce
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Kosmc AI, a social commerce infrastructure startup, has raised $200,000 in pre-seed funding from a group of undisclosed angel investors based in India and the Middle East. According to a press release issued by the company, the capital will be used to enhance its no-code product suite, expand affiliate integrations, and scale operations across India and Southeast Asia. Kosmc AI is tackling what it calls a fundamental mismatch between how users interact on social platforms and how commerce actually happens. While platforms like Instagram, WhatsApp, and Telegram drive high engagement, the company argues that monetisation mechanisms remain outdated and inefficient. "Social platforms are now where discovery and engagement begin, but monetisation still relies on traditional e-commerce systems," said Ankur Gupta, CEO, Kosmc AI. "Kosmc is building infrastructure that allows individuals and brands to convert conversations and content into commerce, without needing code, commissions, or technical complexity." With over 160,000 monthly active users across 25 countries, the platform primarily serves content creators, digital-first entrepreneurs, and early-stage consumer brands. Its toolset includes link-in-bio storefronts for direct sales via social media, chat automation to handle customer interactions, mobile-optimised checkout Smartlinks, and affiliate tools to connect brands with creators and micro-influencers. The rise of short-form video, chat-based transactions, and influencer marketing is reshaping how consumers discover and purchase products. Kosmc AI is aiming to serve as a backbone for this emerging model of commerce—one that bypasses traditional e-commerce gatekeepers. Manavta Narula, co-founder and COO, underscored the company's broader ambition. "Commerce today needs to be creator-first, mobile-native, and frictionless," she said. "We are building tools that allow anyone to own their narrative, engage meaningfully, and earn from their presence online without heavy dependencies."
Forbes
27-05-2025
- Business
- Forbes
Angel Investor Vs. Venture Capital: Which Is Right For Your Startup?
By Levi King VCs and angel investors have different approaches and tend to invest at different scales. In the world of startup funding, two prominent players stand out: venture capitalists (VCs) and angel investors. Angel investors are typically wealthy individuals who invest their personal funds in early-stage startups. Often former entrepreneurs themselves, they bring not only capital but also valuable experience and industry connections to the table. Angels tend to be more flexible in their investment approach, often making decisions based on personal interest in the entrepreneur's vision or the potential of the idea itself. Venture capitalists, on the other hand, are professional investors who manage funds on behalf of other investors, such as institutions, corporations, or pension funds. They operate within a more structured framework, employing rigorous due diligence processes and focusing on businesses with high growth potential and scalable models. While both provide crucial financial support to emerging businesses, they differ significantly in their approach, investment scale, and overall impact on a company's trajectory. Understanding these differences is essential for entrepreneurs seeking to secure the right type of funding for their ventures. One of the most significant differences between VCs and angel investors lies in the stage at which they typically invest and the amount of capital they provide. Angel investors are often the first external funding source for startups, stepping in during the pre-seed or seed stages when the business is still developing its product or service trying to find product-market fit. Their investments usually range from tens of thousands to hundreds of thousands of dollars, filling the crucial gap between initial funding from friends and family and larger institutional investments. Venture capitalists, however, tend to enter the picture at later stages, typically seed, Series A, and beyond, when a startup has already demonstrated some market traction or viability. VC investments are significantly larger, often starting in the millions and potentially reaching tens of millions of dollars. This reflects their focus on scaling businesses with established potential rather than nurturing ideas from inception. The decision-making process for angel investors is often more personal and subjective. They may rely heavily on their gut feeling, the entrepreneur's passion, and the potential they see in the idea. This approach allows for quicker decisions and can be advantageous for startups needing fast access to capital. Venture capital firms employ a more structured and rigorous decision-making process. This involves detailed market analysis, assessment of the business model, and evaluation of the startup's growth potential. Decisions are typically made by a committee or team rather than an individual, which can lead to a longer and more complex process but often results in a more comprehensive evaluation of the investment opportunity. Angel investors frequently take a hands-on approach with the businesses they invest in. They often provide mentorship, guidance, and access to their personal networks. This level of involvement can be invaluable for early-stage startups navigating the challenges of business development and market entry. While venture capitalists also offer support beyond just capital, their involvement tends to be more strategic. They may seek board positions, influencing major decisions and providing high-level guidance on scaling the business. VCs typically have extensive networks and can facilitate partnerships, further funding rounds, and potential exit opportunities. Angel investors generally have a higher tolerance for risk, often investing in unproven ideas or technologies. They understand that many of their investments may fail, but they're willing to take these risks for the potential of high returns on successful ventures. Their investment horizon tends to be longer, and they may be more patient with the company's growth trajectory. Venture capitalists, while still operating in the high-risk world of startup investments, tend to be more risk-averse than angel investors. They seek businesses with clear paths to significant returns, often looking for companies that can potentially provide a 10x or greater return on investment. This focus on high growth and scalability influences both their investment choices and their expectations for the companies they back. The level of control and influence exerted by investors is another key differentiator. Angel investors typically seek less control over the companies they invest in, often content with minority stakes and limited voting rights. This can be appealing to entrepreneurs who wish to maintain significant control over their company's direction. Venture capitalists, however, usually demand more substantial equity stakes and greater control. They may require board seats, voting rights, and other mechanisms to protect their investment and influence the company's strategic decisions. While this can bring valuable expertise and guidance, it also means entrepreneurs must be prepared to cede some control over their businesses. More from AllBusiness: Deciding between angel investors and venture capitalists depends on various factors related to your business's stage, needs, and long-term goals. Here are some considerations to help guide your choice: If you're in the very early stages, with just an idea or prototype, angel investors might be more appropriate. If you have a proven product and are looking to scale rapidly, venture capital could be the better option. For smaller capital requirements (up to a few hundred thousand dollars), angel investors are often the go-to choice. For larger amounts necessary for significant scaling, VCs are typically better equipped. If you're aiming for rapid, exponential growth and have a business model that supports this, VCs might be more aligned with your goals. For businesses with more modest growth projections, angel investors might be a better fit. If maintaining control over your company's direction is a priority, angel investors generally allow for more autonomy. If you're open to significant external influence and guidance, VC funding might be more suitable. Consider the type of support you need beyond capital. Angel investors often provide more hands-on mentorship, while VCs offer strategic guidance and extensive industry connections. VCs typically look for clear exit strategies, often pushing for rapid growth toward an IPO or acquisition. If you're not planning for such exits in the future, angel investors might be more patient. Some industries are more attractive to VCs due to their potential for rapid scaling (e.g., tech, biotech). Other sectors might find more receptive audiences among angel investors. As you consider which is best for your business, realize that both venture capitalists and angel investors play crucial roles in the startup ecosystem, each offering unique advantages. The right choice depends on aligning your business's needs, stage, and goals with the investor's approach, resources, and expectations. By carefully considering these factors, entrepreneurs can make informed decisions about which funding path is most likely to lead their business to success.
