Mumzworld.com, one of the leading e-commerce shopping site for mothers based in Dubai, just closed its $20 million Series B funding round with an investment from Gulf Islamic Investments (GII).
The funds raised by Mumzworld.com makes it the largest-ever women-led VC funding round to happen in the e-commerce field in the MENA region. The e-commerce platform has already had investors from Tamer Group, Wamda Capital, Swicorp, and six additional investors at the beginning of this year.
With the funds, the platform will boost its automation and launch its vertical-specific consumer offerings as part of the company’s innovation agenda to enhance its consumer experience. In addition, the platform is also planning on expanding its presence in Saudi Arabia.
Founder and CEO Mona Ataya commented on the investment saying: “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.”
The e-commerce platform was founded in 2011 and has exponentially grown ever since. Mumzworld has over 200,000 products, 25,000 of which that is exclusive, and has serviced over 2 million mothers. The platform ship to 20 countries in the MENA region, and has grown its offering to 1800 brands, where they’re expecting it to double in the next 6 months.
Mohammed Al-Hassan, co-founder & CEO GCC, said: “E-Commerce is the next frontier in the Middle East, and therefore we wanted to invest in this sector. We are proud to partner with Mumzworld, which has already become a household name in the region. We are particularly impressed by the company’s strong unit economics, high customer lifetime values, and large addressable market that keeps growing.”