UAE-based e-commerce site Mumzworld has announced the closing of its fifth and largest funding round as it pursues regional expansion.
The mother, baby and child shopping site said the round was led by existing investor Wamda and new investor Swicorp, a boutique investment bank with offices in Dubai.
The round also saw a “landmark investment” from Saudi pharmaceutical and FMCG firm Tamer Group and support from previous investors Precinct Capital, WSB Holding, Riverbank Technologies and Saned.
The size of the round was not disclosed.
Mumzworld said it was also in the advanced stages of talks with two additional investors to add the round by the early second quarter.
The company plans to use the funding to expand in Saudi Arabia and North Africa with the help of new Saudi investors including Tamer Group.
“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 Mumzworld founder and CEO Mona Ataya.
“We look forward to working with all our partners and leverage their strong capabilities in distribution and logistics to serve mums, across the GCC, with superior speed and unique mother centric services, creating a superior customer experience. Our strong and supportive investor base will help us further anchor our advantages and grow deeper and faster across the MENA region.”
Mumzworld was founded in October 2011 by Ataya and Leena Khalil and now has partnerships with 2,700 retailers, distributers, manufacturers and brands, according to the announcement.
Its has a catalogue of 200,000 products.