• CEO and co-founder Abdallah Abu Sheikh exits Astra Tech, selling his stake to existing shareholders.
• The company expanded into a super-app with services like PayBy, Rizek, Botim, and remittances.
• CTO Long Ruan steps in as interim CEO, vowing to continue Astra Tech’s growth and innovation.

Abdallah Abu Sheikh, co-founder and CEO of Astra Tech, is stepping down from his role. He will sell his stake in the company to existing shareholders.

Astra Tech, which owns the video-calling app Botim, has made significant strides over the last two years. The company has been transforming into a super-app, expanding into remittances and other services.

Abu Sheikh founded Astra Tech in 2022, building a diverse portfolio that includes PayBy, Rizek, Botim, and Quantix. “I am extremely proud and humbled by Astra’s journey; it’s been a lifetime honour to be able to build and serve users at this magnitude,” said Abu Sheikh in a statement.

“I have done my building, and now it’s time for new leadership to grow what we have built.” (He has not disclosed his next business venture so far, but has ‘mentioned he would go back to building from the ground up’.)

Astra Tech’s Growth Plan

While he has not revealed his next venture, Abu Sheikh has mentioned he plans to “build from the ground up” once again. His exit has stirred discussions in the local tech industry, reported Gulf News website.

Long Ruan, the current CTO and co-founder of Astra Tech, will step in as interim CEO. Ruan expressed his gratitude for Abu Sheikh’s leadership.

Ruan to Take Interim Astra Tech CEO Role

“Thanks to his dreams and energy, we have collectively achieved so much,” said Ruan in a statement. “I am honoured to serve Astra Tech through this new chapter and into new heights; we have so much that we are very excited to release for our users in days to come.”

Under Abu Sheikh’s leadership, Astra Tech redefined its business model, making notable progress in the competitive fintech space.

As Ruan takes over, the company remains poised to continue its growth and deliver new innovations for users in the near future.