MENA-based e-commerce platform Mumzworld has raised its fifth, and largest, round of funding to date, in order to further expand in regional areas such as Saudi Arabia and North Africa.
The website, founded in 2011, is dedicated to mothers, babies and children and aims at making mothers’ lives easier.
Its funding round was led by Wamda and Swicorp, which headed a group of new investors including one by healthcare firm Tamer Group.
Other investors included Precinct Capital, WSB Holding, Riverbank Technologies and Saned, as well as prominent Saudi groups operating in adjacent segments and multiple mother and child categories.
Mumzworld is also in talks with two additional investors who are keen to join in by early Q2 this year.
Its most important market today is Saudi Arabia.
“Our number one priority for the coming two years is to build, scale and consolidate an indisputable position of category leader in Saudi Arabia, the region’s largest and most lucrative market. We are thrilled to welcome our new strategic partners such as Tamer Group,” said founder and CEO Mona Ataya.
Khaled Talhouni, Partner at Wamda, said the organisation is ‘excited’ to be co-leading the latest round of investment at Mumzworld as part of its strategy to back growth companies through multiple rounds of financing.
“As the company continues to dominate this vertical space for mother and child, Wamda investment is a natural biproduct,” he said.
Bilingual website Mumzworld works with over 2,700 retailers, distributers, manufacturers and brands in the region and internationally, with over 200,000 products available for customers to buy.
It was founded by entrepreneurs and mothers Mona Ataya and Leena Khalil to addresses the challenges mothers in the region face in sourcing products for their children and in obtaining access to information about these products.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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