ArabyAds raises $30m in Pre-Series B funding round from AfricInvest
Egyptian company based on Dubai ArabyAds the leading AdTech company in the MENA region announced on Wednesday that it has collected $30 million in Pre-Series B funding round from AfricInvest.
AfricInvest is a leading pan-African investment platform managing multiple alternative asset classes including private equity, venture capital and private credit.
ArabyAds will use the new funding to widen its footprint and further invest it to accelerate its technological advancement and talent acquisition to support the growth.
The deal marks the eighth investment for AfricInvest’s Maghreb Private Equity Fund IV, which provides growth capital to small and mid-cap companies to expand regionally and across the African continent.
Mahmoud Fathy CEO of ArabyAds said “we are delighted to welcome AfricInvest as one of our long-term investors and thank them for placing their trust in our vision to build value for all stakeholders in the ecosystem.”
Moreover, ArabyAds abides to transform the digital advertising landscape with innovation as it has been leading the way to deliver performance advertising with its platform offerings, Fathy added.
He continued that ArabyAds is looking to expand its presence in newer markets where it can exand its scalable, secure, and end-to-end platforms, in order to help e-commerce businesses scale effortlessly across the globe.
On his side, Mohammad Khartabil chief business development officer at ArabyAds, welcomed AfricInvest inboard and thanked them for trusting their capabilities.
Khartabil assured that ArabyAds has identified new business opportunities and the financing will accelerate the company’s plans, continuing that it focuses to create unmatched value for all its stakeholders and revolutionise e-commerce businesses through its transformative technology platforms.
Skander Oueslati the chief investment officer of AfricInvest said, “We are pleased to partner with ArabyAds at a time when the technology company is looking to further disrupt the AdTech industry through its transformative technology platforms.”
ArabyAds has established a strong brand in the MENA region and is widely recognized for its reliability and expertise in digital marketing and advertising, Oueslati said.
ArabyAds’s 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, mentioned its chief investment and strategy officer, Gulrez Alam.
Ismail Talbi and Khalil Lakhoua who co-led the transaction for AfricInvest announced that they will provide ArabyAds with the support of thier platform to deploy its future expansion projects in the MENA and Africa regions and beyond.
ArabyAds had founded in 2013 in the Arab Republic of Egypt and its headquartered in the UAE, and has several technology centres in Egypt, Tunisia, and Jordan.
AfricInvest an investment and financial services company had founded in the early 1990s.
