Dubai-based ecommerce startup Mumzworld that sells products for babies, children, and mothers, has raised investment, in a round, led by Swicorp, an investment firm with a focus on MENA, and Wamda Capital. Saudi-based leading healthcare and FMCG company Tamer Group and existing investors including Precinct Capital, WSB Holding, Riverbank Technologies and Saned also joined the round.
It is the fifth investment round closed by the company that was founded by Mona Ataya and Leena Khalil in 2011. Mumzworld did not disclose the size of investment but said that it’s the biggest round they’ve raised yet. Given this claim and the investors involved, we’re guessing its a low-end eight-figure (US dollar) investment.
Mumzworld is currently present in UAE & Saudi, selling more than 200,000 products on its platform; 20,000 of which are sold exclusively on Mumzworld. The company has more than 2,700 regional and international partners in form of retailers, distributors, manufactures and brands.
They plan to use the investment to further expand their operations in Saudi and launch in North Africa.
“We founded Mumzworld.com in 2011 pioneering the vertical space for mother, baby, and child. Today we serve global brands offering them fast and cost-effective access to the widest, most loyal and targeted consumer base. 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,” said Mona Ataya, founder & CEO of Mumzworld.
“We are thrilled to welcome our new strategic partners such as Tamer Group. We look forward to working with all our partners and leverage their capabilities in distribution and logistics to serve mums, across the GCC, with superior speed and unique mother centric services, creating an unmatchable customer experience. Our strong and supportive investor base will help us further anchor our advantages and grow deeper and faster across the MENA region.” she added.
Mumzworld is currently also in talks with two more investors who could join the same round by next quarter.
Karim Souid, the Head of Next Next Economy Initiative for Swicorp said: “In an overall ecommerce space dominated by Amazon and the likes, we believe leading full-service and consumer-centric vertical players like Mumzworld have embedded defensibility and a strong potential to grow and scale. This is evidenced by Mumzworld’s impressive growth and attractive unit economics.”
“We are very excited to be co-leading this latest round of investment at Mumzworld as part of our strategy to continuously back exponential 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 byproduct,” said Khaled Talhouni, the Managing Partner at Wamda Capita, speaking about the invesment.
Mumzworld previous publicly announced investment was in February 2016 when it secured multi-million Series B round from Wamda Capital, twofour54, Endeavor Catalyst, Precinct Partners and WSB Holding.