UAE – Mubasher: Advertising technology (AdTech) firm ArabyAds has raised $30 million in Pre-Series B funding round from AfricInvest.
The Dubai-based company aims to endorse its growth plans by using the proceeds of the financing to expand its footprint and pump more investments to accelerate its technological advancement and talent acquisition, according to a press release.
ArabyAds was founded in Egypt in 2013, yet its headquarters is in the UAE. The firm has tech hubs across the Arab republic, Tunisia, and Jordan.
CEO and Co-Founder of ArabyAds, Mahmoud Fathy, said: “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.”
Fathy added: “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.”
The AdTech company has an objective to support and help advertisers in customer acquisition, retention, and monetisation.
Gulrez Alam, Chief Investment and Strategy Officer at ArabyAds, noted: “This funding round enables us to increase the pace of our international expansion, providing ArabyAds an opportunity to further deliver meaningful technology solutions to e-commerce companies globally.”
AfricInvest’s Chief Investment Officer, Skander Oueslati, meanwhile 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.”
