Kuwait-based Snapbook has raised $1.5 million in seed funding from Faith Capital, the Kuwaiti VC announced today.
Founded by Abdullah Boodai in 2016, Snapbook is an online photo publishing service that allows users to buy photo books, and gifts, t-shirts, mugs, mobile phone cases, customized with their pictures. Anyone can create their designs by uploading the pictures through Snapbook’s website or mobile apps to buy the customized items.
The startup that claims to be MENA’s leading and only full-fledged internet photo publishing service currently ships to over 40 countries including Kuwait, Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Oman, Egypt, Algeria, and Tunisia.
Abdullah Boodai, the Founder and CEO of Snapbook, speaking about the investment, said, “Snapbook intends to attain pre-eminence in the field of photo printing, and we’ll work alongside Faith Capital to achieve a lasting global presence as a company with technology driving its core value proposition and operating efficiencies.”
“As the first institutional investor in Snapbook, we have long believed that the regional e-commerce sector is ripe for new entrants and product offerings, and we are proud to partner with Kuwaiti founders to pursue this unique market opportunity,” noted Abdulaziz B. Al Loughani, the Managing Partner of Faith Capital. “We look forward to further developing our professional relationship in the years to come.”
“Faith Capital partners with founders who truly understand the value of technology in creating sustainable operations. Snapbook’s investment in building such technologies demonstrates their long- term commitment to mastering their platform’s scalability,” said Abdulaziz Hayat, an Associate at Faith Capital. “Together, we’ll expand the reach of MENA’s first truly scalable custom photo printing startup.”
Many similar services in the United States and other parts of the world have also managed to attract decent amount of venture money, suggesting, that there’s a big user base for these services.
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