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The UAE-based communications for commerce solutions provider Zbooni has successfully closed its Series A funding round at $9.5M. The round began with an initial $5M closing and has now incorporated a second tranche of $4.5M, priced to reflect the continued growth and business momentum. The recently closed round includes a combination of new and existing investors March Holding, California-based Enterprise Fund, and initial investor Chalhoub Group.
Founded in 2016, Zbooni offers in-class tools and technology for businesses to capitalize on the increasing prevalence of social and conversational commerce. The UAE-based startup provides an avenue through its mobile seller abb and intricate solutions through its web-based tools for merchants to efficiently connect with leads and make sales in a seamless customer experience.
This latest investment further fuels Zbooni’s growth, as it creates a unique balance between Saas and E-commerce. E-commerce startups across MENA have observed an 8% YoY growth in number of deals as most recently recorded in our August 2021 Venture Investment Dashboard, making them the second-most active industry in 2021. However, on the SaaS side of things, SaaS startups in MENA recorded remarkable wins this year, most recently with Unifonic’s $125M Megadeal and Arrow Labs’ $5M Series A.
Zbooni has been observing strong customer traction on its mobile seller app and web-based tools and is further developing its proprietary commerce technology. The footprint of the company has expanded in 2021, with new hires and the opening of additional regional offices. The funding will be used to bring in talent, expand into new markets and serve the needs of different customer segments.
Ramy Assaf, Zbooni CEO and Co-Founder elaborated “This funding round welcomes new and existing investors to complement the business as it expands. We look forward to leveraging their depth of relevant first-hand expertise in building large-scale technology. Our solutions help businesses seamlessly transition into a new era of commerce, offering more relevant ways to sell and interact with customers.”
Zbooni will utilize its newly acquired funds to further develop its proprietary technology and platforms, expand its team to boost its operations, as well as further grow its user base. As the startup gets ready to scale its operations, Rammy Assaf concludes with a vision for the startup “What started as an innovative way of capturing business payments via messaging apps is evolving into a wider solution, built with a focus on being mobile and simple to use. We see a massive opportunity in front of us and are excited about helping define the next generation of commerce.”
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