Ecommerce startup raises USD 30 mln in Series A investment round

Tuesday 9 April 2019 14:36 CET | News

UAE-based mass market ecommerce platform has closed its USD 30 million Series A, the startup announcing it is its first external round.

The investment is co-led by UAE-based StonePine ACE Partners and Saudi Arabia-based Al-Faisaliah Ventures, and this is one of the largest investment rounds raised by an ecommerce startup in the region.

Founded in 2013, sells products mainly in the UAE and in Saudi Arabia, focusing on the low to mid-income segments. The ecommerce platform currently offers over 70,000 products across 30 plus categories of products and has its own fulfilment centre and logistics.

The startup plans to use the investment for further geographical expansion, to enhance the platform and their technology, and to increase their offering across multiple product categories.

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Keywords:, ecommerce, startup, Series A, investment round, ecommerce platform
Countries: World

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