ArabyAds raises $30M Pre-Series B
UAE-based AdTech startup, ArabyAds, raises $30M in Pre-Series B funding round from AfricInvest Maghreb Private Equity Fund IV to expand globally.
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ArabyAds, the Advertising Technology company in the MENA region, has raised $30M in Pre-Series B funding from AfricInvest, a pan-African investment platform managing multiple alternative asset classes including private equity, venture capital, and private credit. 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.
Venture Capital investment in the UAE has been observing steady YoY growth to reach its all-time high in 2021. As seen in our UAE H1 2022 Venture Investment Report, over the first half of 2022, investment levels are relatively on par with last year as UAE-based startups raise almost $700M in funding covering over 45% of FY 2021 funding across 50% of the total deals. More than 25% of the funding was driven by the sole Mega Round seen in H1, credited to Pure Harvest’s $180.5M funding round. The UAE sustains its position as the top market in MENA, aggregating almost 40% of total funding raised in the region. An interesting factor to note is that despite the UAE being the only geography in MENA out of the top 3 to record a YoY funding decline, the UAE keeps a $100M+ lead from its runner-up Saudi Arabia over H1 2022. A major contributing factor has been the FinTech industry bringing in the lion’s share of total capital and transactions with sizable investments in the likes of Tabby ($54M Series B), Wahed ($50M Series B), and NymCard ($23M).
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The startup leverages innovation and delivers measurable results to its advertisers with data-led, transparency-first & omnichannel marketing, Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds, commented, “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 to further 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 an opportunity to further 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.
Mohammad Khartabil, Chief Business Development Officer and Co-Founder of ArabyAds, also shared his thoughts, “We welcome AfricInvest to the ArabyAds family and thank them for trusting our capabilities. Our single focus is to create unmatched value for all our stakeholders and revolutionise e-commerce businesses through our transformative technology platforms.” 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.”
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