Stay up to date on our entrepreneurs, events, research and more. Check out our November newsletter here.
The Dubai-based Mumzworld, founded by Mona Ataya, announced that it has closed a Series B funding round with a multi-million dollar investment led by Wamda Capital, twofour54, and Endeavor Catalyst. This marks Endeavor Catalyst’s first investment in a female entrepreneur and second overall in the UAE. The mother and child-focused e-commerce website will leverage this investment to work on expansion across the region and enhancing its customer experience.
Several pre-existing investors also increased their stake in the company. Since its launch in 2011, Mumzworld has developed the largest online inventory available in the region. Mumzworld currently has access to over 650,000 mothers in the region – with 45 percent of its customers returning to buy from the site five to six times a year – and stocking over 100,000 products. Despite obstacles to growth, the company has expanded its catalog over the past four years.
“This is a strategic round; not only financial. It allows us to tap into investors that can open doors, like TwoFour54 who is committed to developing the technology ecosystem in the region, Endeavor to the international businesses, and Wamda Capital to a diversity of portfolio companies that offer many potential synergies,” Ataya said in a statement. “Finding the right strategic partners during this latest round of funding has been a key element for us, because it is clear our future growth depends on more than capital input.”
Since reaching their warehousing capacity more than a year ago, Mumzworld has had difficulty scaling its inventory. This round of investment will allow the company to grow its infrastructure and scale its range of products. Ataya said she will also use the investment to perfect their customer service capabilities and improve user experience aspects of the site.
For the company’s high-impact work, Mumzworld and Ataya have won several awards in the past few years including “Small Business of the Year,” “Online Retailer of the Year 2013,” and “Executive of the Year.” Selected into the network in 2014, Endeavor continues to support Ataya as she recruits top talent, raises additional capital and seeks partners for ongoing regional expansions.
Read more about the investment news in Wamda and The National.
About Endeavor Catalyst
Endeavor Catalyst is a passive co-investment vehicle that allows Endeavor Global to invest in Endeavor Entrepreneurs in a neutral, unbiased way. The main goal of this program is to use the returns of the investment to support Endeavor’s operations. The fund also contributes to Endeavor’s mission as it promotes professional third-party angel and venture capital investors to take a stronger interest in emerging market investment opportunities.
Learn more about Endeavor Catalyst by clicking here.
© 2018 Endeavor Global, Inc.
All Rights Reserved
Endeavor Global, Inc.
900 Broadway, Suite 301
New York, NY 10003
1 (212) 352-3200
Website by BRITEWEB