AfricInvest, a pan-African investment platform that manages numerous alternative asset classes like private equity, venture capital, and private credit, has provided $30 million in pre-Series B funding to ArabyAds, the advertising technology firm in the MENA area. ArabyAds, an Egyptian company founded in 2013, assists advertisers in customer acquisition, retention, and monetization by utilising its technology platforms for influencer marketing, coupon-based advertising, retail media, live commerce, and on-device contextual advertising. It has offices in the UAE and tech hubs throughout Egypt, Tunisia, and Jordan.
Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds
The firm will use the additional funding to increase its reach and make more investments to promote its technology development and hire more personnel to assist growth.
“This funding round enables us to increase the pace of our international expansion, providing ArabyAds with 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.
Why The Investor Invested
“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,” Skander Oueslati, Chief Investment Officer at AfricInvest, commented on the investment.
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“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,” Ismail Talbi and Khalil Lakhoua who co-led the transaction for AfricInvest concluded.
A Look At What The Startup Does
Mahmoud Fathy and Mohammad Khartabil founded ArabyAds in 2013, and by utilising their technology platforms for influencer marketing, coupon-based advertising, retail media, live commerce, and on-device contextual advertising, they assist advertisers in customer acquisition, retention, and monetization.
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“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,” Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds, said.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry