Mumzworld Closes A US$20 Million Series B Round To Fuel Its Expansion Into KSA Dubbed the largest vertical focusing on mother, baby and child in the MENA e-commerce space, Mumzworld prepares for the implementation of its aggressive expansion strategy.
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Dubai-based Mumzworld.com has closed its US$20 million Series B funding round with Gulf Islamic Investments (GII) joining Tamer Group, Wamda Capital, Swicorp, and six other investors.
The transaction, which was advised by Delta Partners, makes GII the single largest shareholder in Mumzworld.
According to the official press release, the financing will be used to disrupt the rapidly growing and under-served e-commerce market in KSA, and for the implementation of the company's innovation agenda, including boosting its automation and launching vertical specific consumer offerings.
Founded in October 2011 by Mona Ataya and co-founder Leena Khalil, Mumzworld has now grown to carry over 200,000 products of which 25,000 are exclusive, to service over 2.5 million mothers, and to deliver to more than 20 countries. Speaking about the company's future potential, Pankaj Gupta, co-founder and CEO UAE, GII, said, "UAE serves as an e-commerce gateway to other markets in Middle East, with advanced technological infrastructure. Mumzworld, being UAE homegrown, will not only achieve further growth in the promising UAE market but also replicate its expertise, know-how, capabilities in the lucrative Saudi Arabia market and beyond."
Mumzworld's co-founder and CEO Mona Ataya pointed out that GII joined the Mumzworld family at a critical inflection point in the company's trajectory. She added, "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."
'TREP TALK: Mona Ataya's dos and don'ts for raising a successful Series B round.
Do's
- When you are the #1 player, you need to be laser focused and have a very clear plan for how you will use the funding to aggressively scale and further anchor your place as the undisputed leader. In our case, we have a clear plan for how the funding will be used to scale, grow, and anchor our leadership.
- Do know your numbers really well, and make sure these are bulletproof. Entrepreneurs who know these well and have a strong story to tell shine against copycats, whose numbers don't substantiate their fluffy claims.
- When speaking to investors, present your key advantages, your differentiating factors, and your USP. Make sure you flag why you are different and better than anything else that is out there as that illustrates not only your strength today and how you got to where you are, but even more importantly, it gives the investors confidence that you have a scalable, consumer-valued business for the long term.
- Investors invest in people. Surround yourself with the right leadership team and share your team's strengths with your investors.
- Do partner with the right investor who has the right expertise, who is able to add value, and who shares your vision.
Don'ts
- When you are the #1 player in the market, don't sign up investors that don't have the ability to help you grow or scale.
- Don't consider the deal done until the papers are signed and the money is in the bank. You will see many investors who will show interest and confirm funding, but until the deal is signed and the money is in the bank, anything is possible.
- Don't talk to one investor only. Talk to as many as you can, have multiple terms sheets and evaluate all your potentials carefully to see who can add best value to you financially and strategically, before committing to one.
Related: Follow The Leader: Mona Ataya, Founder And CEO, Mumzworld
