Egypt-based ArabyAds, an Advertising Technology company serving the Middle East and
North Africa Region (MENA0 has raised $30 million in pre-Series B funding from
AfricInvest, a pan-Africam investment platform managing multiple alternative
asset classes, including private equity, venture capital, and private credit.
According
to a statement released on Tuesday, the Chief Executive Officer and Co-Founder
of ArabyAds, Mahmoud Fathy emphasized, “ArabyAds is committed to transforming the
digital advertising landscape with innovation and has been leading the way to
deliver performance advertising with its platform offerings. Our fundamentals
are strong, and as one of the fastest and profitably-growing companies in the
MENA region, ArabyAds is now looking to expand its presence in newer markets
where it can leverage its scalable, secure, and end-to-end platforms to help
e-commerce businesses scale effortlessly across the globe.”
Skander Oueslati,
Chief Investment Officer at AfricInvest, commented on the investment “We are
pleased to partner with ArabyAds at a time when the technology company is
looking further to disrupt the AdTech industry through its transformative technology platforms. ArabyAds has established a strong brand and excellent
reputation in the MENA region and is widely recognized for its reliability and
expertise in digital marketing and advertising.”
ArabyAds will use the
new financing to expand its footprint and further invest it to accelerate its
technological advancement and talent acquisition to support the growth. “This
funding round enables us to increase the pace of our international expansion,
providing ArabyAds with an opportunity further to deliver meaningful technology solutions to e-commerce companies globally. At ArabyAds, our vision is to
create a sustainable business with financial prudence, and I am sure we will be
able to replicate our success story in the new geographies as well”, commented
Gulrez Alam, Chief Investment and Strategy Officer at ArabyAds.
Ismail Talbi and
Khalil Lakhoua, who co-led the transaction for AfricInvest, concluded, “We are
excited to play a role in ArabyAds’ growth journey and will provide the company
with the support of the AfricInvest platform to deploy its future expansion
projects in the Mena and Africa regions and beyond.”
Founded in 2013 in
Egypt, with headquarters in the UAE and tech hubs across Egypt, Tunisia, and
Jordan, ArabyAds helps advertisers in customer acquisition, retention, and
monetization by leveraging its technology platforms for influencer marketing,
Coupon based advertising, retail media, live commerce, and on-device contextual
advertising.
By: Kanto Okanta
