“Gulf Islamic Investments” to hold a significant stake in “Mumzworld”

Dubai: 02 October 2018

Gulf Islamic Investments LLC (GII), UAE announced a major investment into the booming e-commerce sector with the successful closing of an extended Series B Equity Funding round in Mumzworld. Being the leading e-commerce vertical player in its sector in the Middle East, Mumzworld specializes in products related to Mothers, Babies and Children. This investment makes GII the largest shareholder in Mumzworld.

Mohammed Al-Hassan, Co-Founder & CEO GCC, GII commented: “E-Commerce is the next frontier in the Middle East. The GCC region, with its high disposable incomes, lower E-Commerce penetration than Western markets but high and fast-growing internet penetration and young population has all the necessary recipes for this segment to be successful. UAE being World No.1 in smartphone penetration also facilitates on line business. Saudi Arabia has immense potential for e-commerce in general and Mother, Baby and Child vertical in particular. Saudi Arabia’s Vision 2030 encourages growth from e-commerce and plans to bring e-commerce law to regulate / strengthen cybersecurity. Mumzworld has already become a household name in the region. We are excited to be a part of its growth plans. We will guide Mumzworld to reach new heights and be its partner for growth; a value embedded in GII’s services.”