UAE-based leading mobile application for social commerce Zbooni has raised 9.5 million in a round of Series A funding from regional and international strategic investors.
According to the statement, “The round began with an initial $5 million closing and has now incorporated a second tranche of $4.5 million, priced to reflect the continued growth and business momentum.” The recently closed round includes a combination of new and existing investors.
The company’s footprint has grown with new hires and the launch of new regional offices in 2021. The funding will be used to hire additional employees, grow into new markets, and meet the demands of various client segments.
Zbooni provides businesses with best-in-class tools and technology to handle the growing prevalence of social and conversational commerce. The company’s mobile seller app and web-based tools are gaining momentum with customers, and the company’s proprietary commerce technology is being developed further.
Ramy Assaf CEO & Co-founder Zbooni
“This funding round welcomes new and existing investors to complement the business as it expands. We look forward to leveraging their depth of relevant first-hand expertise in building large-scale technology. Our solutions help businesses seamlessly transition into a new era of commerce, offering more relevant ways to sell and interact with customers. What started as an innovative way of capturing business payments via messaging apps is evolving into a wider solution, built with a focus on being mobile and simple to use. We see a massive opportunity in front of us and are excited about helping define the next generation of commerce.”
As per the statement, “New investment has come from March Holding, a regional family office with interests in ICT, eCommerce, and payments infrastructure; Enterprise Fund, a California-based VC founded by former senior Atlassian executives; and European private investors that have operated global payments and eCommerce businesses.”
Chalhoub Group, an existing investor, also invested in this round through their CCVA investment arm and is leveraging the services of Zbooni to build richer omnichannel experiences for customers across different brands and retail outlets.
