Arabnet Arabnet

Mumzworld, the online shopping platform for mothers based in Dubai, has recently announced its success in securing $20M in its Series B funding round from Gulf Islamic Investment (GII). This investment makes GII the largest stakeholder in Mumzworld.

The $20M follows investments from Tamer Group, Wamda Capital, and Swicorp, together with six additional investors earlier this year.

“We at GII are committed to working together with Mumzworld’s founders and management team to take the company to new peaks in the next 4 to 5 years,” said Pankaj Gupta, co-founder & CEO for UAE operations at GII.

The company added that the financing will be used to disrupt the under-served e-commerce market in Saudi Arabia. It will also be used to boost automation and launch vertical specific consumer offerings as well as to continue to grow the brand’s footprint.  

"At a time of economic slowdown in the region, supported by our strong team, we are extremely grateful and proud to have been able to raise our biggest round of funding, and to have the backing of the region’s strongest investors. We will use every dollar to serve, with excellence, mothers, who are at the heart of our customer-obsessed mission," Said Mona Ataya, founder of Mumzworld.

Ever since Mumzworld was founded in 2011, it has undergone tremendous growth providing over 200,000 products, 25,000 of which are exclusive to the platform. Over 2 million mothers benefit from its services with products being shipped to 20 countries in the MENA region.