Mumzworld raises $20 mln funding to expand in Saudi

02/10/2018 Argaam

 

Dubai-based e-commerce platform Mumzworld.com has closed $20 million Series B funding round with UAE-based Gulf Islamic Investments, the firm announced on Tuesday.

 

The funding will be used to disrupt the massive, rapidly growing, and under-served e-commerce market in KSA, as well as to boost automation and launch vertical specific consumer offerings, the statement added.

 

The latest round of funding makes Gulf Islamic Investments the single largest shareholder in Mumzworld, and stands as the largest-ever women-led VC funding round in e-commerce in the MENA region.

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