Mumzworld, a retail website targeting mothers and children, launched the region’s first ever women only investment round in a bid to attract more businesswomen looking to invest in online retail.
Mumzworld was founded in 2011 by Mona Ataya, whose pervious entrepreneurship ventures include the recruitment portal Bayt.com.
Ataya said that the new investment opportunity is aimed at empowering women to contribute and grow.
“We wanted to give the opportunity to mothers, like myself who are educated and want to give back to their community and their families while still being able to dedicate 100 per cent of their time to raising their children.”
Currently the region has a population of 10 million babies while the baby and toy market in MENA is valued at $8 billion, according to Euromonitor data.
Ataya said that the opportunity to invest in the website will be attractive to businesswomen as the region’s mothers have twice the spending power compared to their European peers.
“With this women-only financing round, Mumzworld.com is empowering women to invest in a business they believe in, to reap the benefits from that business’ growth, and potentially to become more financially independent,” she said.
The opportunity to invest in Mumzworld will end on September 20, 2013.
Mumzworld offers a catalogue of 90,000 products online out of which 15,000 are exclusive to the site. The retail site has registered a quarter-on-quarter sales growth of 50 per cent since its launch. The company said that it expects sales to triple over the next 12 months.
Mumzworld website underwent a recent revamp in order to increase its efficiency by the search and payment options present in the website.