Sunday 28 November 2021

Mumzworld raises $20m funding

DUBAI, October 4, 2018

Dubai-based, a leading online retailer for mom and baby products in the Middle East, has raised $20 million in its latest funding round.

The Series B funding round, with an additional investment from UAE-based Gulf Islamic Investments (GII), represents one of the largest women-led VC funding rounds in e-commerce in the Mena region.

Founded in 2011 by Mona Ataya, Mumzworld sells over 200,000 products in UAE and Saudi Arabia, of which 25,000 are exclusively sold on the e-commerce platform.

The new funding will help Mumzworld accelerate its growth in the under-served e-commerce market in Saudi Arabia, boost automation and launch vertical specific consumer offerings to elevate consumer experience and grow the brand’s footprint as the go-to destination for all global baby brands.

Commenting on the funding, Ataya said: "We are delighted to have yet another strong institutional investor in GII join the Mumzworld family at such a critical inflection point in the Company's trajectory. GII brings a wealth of expertise and shares our vision of cementing Mumzworld's position as the dominant leader in our vertical."

Mumzworld services over 2 million mothers, and ships to 20 countries in Mena. The company’s sales have grown 15x in the last five years, and its employee base has tripled in the last year alone.

It has also grown to considerable size and weight in the industry supply chain. Having already grown its offering to over 1,800 brands, it expects to double this in the next six months.

"At a time of economic slowdown in the region, supported by our strong team, we are extremely grateful and proud to have been able to raise our biggest round of funding and to have the backing of the region’s strongest investors. We will use every dollar to serve, with excellence, mothers, who are at the heart of our customer-obsessed mission,” Ataya said.

The funding follows investments from Tamer Group, Wamda Capital and Swicorp, together with 6 additional investors, earlier this year. - TradeArabia News Service

Tags: Funding | Mumzworld |

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