Tamer Group, a Saudi Corporation with interests in beauty, healthcare, and FMCG products, is obtaining Mumzworld, the prime e-commerce platform of the region for mother, and kid products, it declared in a report today. The funding information of the transaction wasn’t revealed. The Jeddah-based corporation that imports, promoted, manufactures, distributes, and markets various products had early invested in Mumzworld in 2018.
The Dubai-based startup had increased more than &50 million in overall funding comprising $20 million Series B in October 2018 from Dubai-based Gulf Islamic Investments. Its other investors comprise Global Ventures, Saned Partners, Wamda Capital, and Endeavor Catalyst.
Formed in 2011 by Leena Khalin and Mona Ataya, Mumzworld sells more than 250,000 products for babies, mothers, and kids, via its mobile and web-based forum, in Saudi Arabia, Oman, United Arab Emirates, Kuwait, Lebanon, Bahrain, and Jordan. The e-commerce podium has thousands of retailers, manufacturers, distributors, and brands, as partners who sell their products on Mumzworld.
This claims to have delivered more than 2.5 clients to date. The website of Mumzworld gets more than one million visitors each month, and the Android application has more than half a million downloads, as per the publicly obtainable data.
The competitors of Mumzworld comprise e-commerce marketplaces such as Noon and Amazon and a few other same international and local podiums. Sprii, one of its major competitors that had increased more than $15 million, was put into liquidation in December 2020 after not existing capable to increase more capital to constant functions. Its closure increased questions about the economics of e-commerce podiums functioning in this classification.
Mona Ataya, the co-founder and CEO of Mumzworld stated, “We are pleased to join the Tamar Group, having formed the largest female-led e-commerce business of the Middle East. We have statement 10x development over the past 5 years, and it is only the starting for us. We are well-positioned than ever to accelerate development, drive wider geographic extension, and constantly form a tech footprint delivering clients better than ever. We would constantly own the supply chain for kids and mother, both our suppliers and clients are at the vanguard of this next thrilling stage for Mumzworld.”
Ayman Tamer, Chairmen of Tamer Group stated, “We think that e-commerce is the future for the GCC. As a core player in the FMCG area, E-commerce is no longer a choice, but a need. The globe has moved to a client-centered model with customer behaviors, data and trends have become the new gold. Players in the area require to apprehend their clients and acclimate to their transforming requirements. Mumzworld would be a step towards Tamer Digital – a most drives vertical we intend to form to give the country, performing towards giving on the vision 2030 of the Saudi.”
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