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.”
Pankaj Gupta, Co-Founder & CEO UAE, GII commented: “UAE is the e-commerce leader in GCC. UAE serves as an e-commerce gateway to other oil-rich markets in Middle East with advanced technological infrastructure and the uniting Arabic language. Mumzworld, being UAE homegrown can not only achieve further growth in the promising UAE market but has already replicated its expertise / know-how / capabilities in the lucrative Saudi Arabia market and beyond and is today the leading ecommerce player for mother and child products in the GCC region. We 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.”
Mona Ataya, Co-Founder & CEO, Mumzworld commented: “We are excited to have GII on board. With the help of GII we are confident to achieve our growth plans. GII’s powerful network 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.”
www.Mumzworld.com® is the pioneer, leading, and gold standard bilingual e-commerce site and the largest vertical focusing on mother, baby and child in the MENA e-commerce space. Mumzworld carries over 200,000 products of which 25,000 are exclusive; services over 2.5 million mothers, and delivers to more than 20 countries, in a fast and convenient way, and at everyday low prices. In October 2011, Mumzworld was founded by Mona Ataya and co-founder Leena Khalil, both successful entrepreneurs and mothers. Mumzworld is not only a go-to destination for global brands to reach mothers in the region, but also the go-to destination for every mum who is looking for an engaged community, rich & relevant bilingual content, and for someone to delight her, every day.
About Gulf Islamic Investments LLC
Gulf Islamic Investments LLC (GII) is a UAE-based financial services company regulated by the Emirates Securities and Commodities Authority (ESCA). Gulf Islamic Investments is committed to providing advisory to a diverse set of unique and well-structured investment opportunities to its clients, with a view to achieve superior returns in the fields of real estate, private equity, venture capital and infrastructure.
Under the leadership of a committed group of prominent shareholders and investors, GII’s team enjoys a track record of managing US$2.5 billion in assets and securing US$5.5 billion in debt and in excess of US$1.0 billion in equity and M&A financing.
The origin of GII comes from UNFC, which was established in 2004 and rebranded in May 2014
For further information please contact:
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Tel: +971 4 3253686
Fax: +971 4 3253709
Email: [email protected]