- Egypt-born and UAE-headquartered advertising technology company ArabyAds, has raised $30 million in pre-Series B funding from AfricInvest.
- Founded in 2013 by Mahmoud Fathy and Mohammad Khartabil, ArabyAds helps advertisers in customer acquisition, retention, and monetisation by leveraging its technology platforms for influencer marketing, coupon-based advertising, retail media, live commerce, and on-device contextual advertising.
- ArabyAds will use the new financing to expand its footprint and further invest it to accelerate its technological advancement and talent acquisition to support its growth.
Press release:
ArabyAds, the Advertising Technology company in the MENA region, has raised $30 million in pre-Series B funding from AfricInvest, a pan-African investment platform managing multiple alternative asset classes including private equity, venture capital, and private credit. Founded in 2013 in Egypt, with headquarters in the UAE and tech hubs across Egypt, Tunisia, and Jordan, ArabyAds helps advertisers in customer acquisition, retention, and monetization by leveraging its technology platforms for influencer marketing, Coupon based advertising, retail media, live commerce, and on-device contextual advertising.
The startup leverages innovation and delivers measurable results to its advertisers with data-led, transparency-first & omnichannel marketing, Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds, commented, “ArabyAds is committed to transforming the digital advertising landscape with innovation and has been leading the way to deliver performance advertising with its platform offerings. Our fundamentals are strong, and as one of the fastest and profitably-growing companies in the MENA region, ArabyAds is now looking to expand its presence in newer markets where it can leverage its scalable, secure, and end-to-end platforms to help e-commerce businesses scale effortlessly across the globe.”
Skander Oueslati, Chief Investment Officer at AfricInvest, commented on the investment “We are pleased to partner with ArabyAds at a time when the technology company is looking to further disrupt the AdTech industry through its transformative technology platforms. ArabyAds has established a strong brand and excellent reputation in the MENA region and is widely recognized for its reliability and expertise in digital marketing and advertising.”
ArabyAds will use the new financing to expand its footprint and further invest it to accelerate its technological advancement and talent acquisition to support the growth. “This funding round enables us to increase the pace of our international expansion, providing ArabyAds with an opportunity to further deliver meaningful technology solutions to e-commerce companies globally. At ArabyAds, our vision is to create a sustainable business with financial prudence and I am sure we will be able to replicate our success story in the new geographies as well”, commented Gulrez Alam, Chief Investment and Strategy Officer at ArabyAds.
Ismail Talbi and Khalil Lakhoua who co-led the transaction for AfricInvest concluded, “We are excited to play a role in ArabyAds’ growth journey and will provide the company with the support of the AfricInvest platform to deploy its future expansion projects in the Mena and Africa regions and beyond.”
Source: Wamda.com