A Dubai-based online sports retailer is looking to raise nearly $800,000 through a crowdfunding-style investment opportunity, with football fans offered the chance to invest a minimum of $10,000 in the venture.
KooraBazar.com, dubbed the Middle East’s largest football eShop, started trading in June 2013 and undertook its first fundraising round last April.
Selling, apparel, footwear and football training gear across the Gulf, football fans can invest a minimum $10,000. In total, the company said it is aiming to raise $800,000 between now and the end of June.
Ghazi Ben Amor, managing director and co-founder said: “For this funding round we have followed the traditional route of VCs [venture capitalists] and angel investors, but part of the round has also been reserved exclusively for football fans, those with a true passion for football.”
The investment process will happen on one-to-one basis, added Yorgos Kleivokiotis, the other co-founder: “We prefer to know our investors on a personal level and we want to make sure they have a love for the game like we do.”
Earlier this year the Dubai-based start-up added Arabic team merchandise to its collection. The move helps gave fans increased access to their team’s merchandise, with Al Ahli, Al Ain, Dubai SC, Saudi Arabia, Qatar and others available on the website.
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