MENA (Middle East North Africa) based Mumzworld, an e-commerce platform dedicated to mothers, babies and children has recently raised its fifth and largest round of funding. The fresh funding will be utilized to implement its regional growth plans.
The funding round was led by Swicorp, an investment banking firm that offers corporate finance advisory services focusing on MENA and Wamda, MENA’s leading venture firm investing in startups. Apart from them, the round also saw participation from Tamer Group and FMCG company.
Existing investors of Mumzworld include- Wamda, WSB Holding, Precinct Capital, Riverbank Technologies and Saned. The e-commerce startup has also seen some quick funds from prominent Saudi groups operating in adjacent segments.
The mother and childcare e-commerce portal Mumzworld is aiming to scale rapidly and it is certain that these new funds will help the platform to achieve better growth trajectory and help in better market penetration.
As per the reports by a financial daily, the platform is also in advanced talks with two more investors to raise funding by this second quarter.
Mumzworld was founded back in 2011 by serial entrepreneurs- Mona Ataya and Leena Khalil, an online marketplace that provides mothers an easy way to find products and information about them for their children, which otherwise is a very tough task for them. Mumzworld has tied up with over 2500+ retailers and distributors and has a variety of over 200,000 products on its website.
“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, partner at Wamda.
“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. 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,” says Mona Ataya, founder and CEO of Mumzworld.
Mumzworld stands in competition with the likes of Amazon, and believes that being consumer centric and high-growth regional e-commerce platform Mumzworld has a strong potential to grow and scale.