Saudi's Tamer Group obtains Dubai-based Mumzworld
Tamer Group, a Saudi organization with interests in medical care, magnificence, and FMCG items, is obtaining Mumzworld, the district's driving online business stage for mother, child, and kid items, it's anything but an explanation today. The monetary subtleties of the exchange were not revealed. The Jeddah-based organization that imports, disperses, advances, markets, and fabricates various items had recently put resources into Mumzworld in 2018.
The Dubai-based startup had brought more than $50 million up in all out financing including $20 million Series B in October 2018 from Dubai-based Gulf Islamic Investments. Its different financial backers incorporate Wamda Captial, Global Ventures, Endeavor Catalyst, and Saned Partners.
Established in 2011 by Mona Ataya and Leena Khalil, Mumzworld sells more than 250,000 items for infants, youngsters, and moms, through its web and portable based stage, in the United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, Oman, Jordan, and Lebanon. The online business stage has a great many retailers, wholesalers, fabricates, and marks, as accomplices who sell their items on Mumzworld.
It professes to have served over 2.5 million clients to date. Mumzworld's site gets over 1,000,000 guests consistently, and the Android application has over a large portion of 1,000,000 downloads, as indicated by freely accessible information.
Mumzworld's rivals incorporate internet business commercial centers like Amazon and Noon, and some other comparable local and global stages (that have a presence in some Middle Eastern business sectors). Sprii, one of its principle rivals that had raised more than $15 million, was set into liquidation in December 2020 after not having the option to raise further cash-flow to proceed with tasks. Its closure brought up issues about the financial matters of internet business stages working in this classification.
Mona Ataya, the prime supporter and CEO of Mumzworld, remarking on the obtaining, said, "We are charmed to join the Tamer Group, having made the Middle East's biggest female-drove web based business. We have recorded 10x development throughout the most recent five years, and this is the ideal start for us. We are preferred situated over at any point to speed up development, drive more extensive geographic extension and keep on building a tech impression serving clients like nothing anyone's ever seen. We will keep on claiming the store network for mother and youngster; both our clients and providers are at the front line of this next interesting stage for Mumzworld."
Ayman Tamer, Chairman of Tamer Group, said, "We accept that internet business is the future for the GCC. As a significant part in the FMCG space, E-business is not, at this point an alternative, however a need. The world has moved to a client driven model with buyer practices, patterns and information having gotten the new gold. Major parts in the space need to comprehend their clients, and adjust to their evolving needs. Mumzworld will be a venturing stone towards "Tamer Digital" – an exceptionally aspiring vertical we plan to work to serve the country, running after following through on Saudi's Vision 2030."