UAE based digital and e-commerce business Mumzworld is set to expand in the Saudi Arabian market, as a result of recently announced investments of $20 million in Series B funding by Gulf Islamic Investments.
Following this round, and this substantial investment, GII will become the largest single shareholder in Mumzworld.
“We look forward to nurturing this partnership in the years ahead” – Mona Ataya
This round of funding will assist the growth of Mumzworld in the GCC, and will assist the e-commerce retailer in taking advantage of growth in the digital commerce marketplace. Pankaj Gupta, co-founder and CEO UAE of GII says they “spot the opportunity at this point in time for Mumzworld to continue its expansion and innovation and we at GII are committed to working together with its Founders and Management Team to take the company to new peaks in the next 4 to 5 years.”
At the announcement of this most recent funding, Mumzworld CEO and Co-founder Mona Ataya reflected positively, “We are excited to have GII on board. With the help of GII we are confident to achieve our growth plans. GII’s powerful net- work and expertise will strongly support Mumzworld to achieve its vision. We look forward to nurturing this partnership in the years ahead to cement a win-win situation.”
Mumzworld was founded in 2011 by Mona Ataya, and has grown to include over 200,000 products for babies, children and mothers. The company now ships to over 20 countries, and offers over 1800 different brands.