Marine Tourism Innovator Waves Secures Funding for Expansion Across GCC

Marine Tourism Innovator Waves Secures Funding for Expansion Across GCC

By Press Release, 11 June 2024

Waves, the GCC leading online marketplace for booking sea trips, marine activities and chalets, announced the closing of an investment round co-led by BNK Capital and Aujan Enterprises.

On this occasion, the co-founder and CEO of Waves, Abdulrahman Al-Sadoun, said with pride and honor, “After the successful launch of our operations in Kuwait since 2021, we announce at Waves the closure of a successful investment round, which witnessed the joining of prominent institutional investors to our cap table, where we intend to invest a large portion of this investment in enhancing our services in the Kingdom of Saudi Arabia, participating in achieving Vision 2030 and the Red Sea projects, being our key growth priorities."

He also added, “With the progress of the Red Sea projects, which have created exciting investment opportunities to develop tourism infrastructure and enhance marine tourism and entertainment in the region, we strongly believe in the importance of supporting these projects and integrating our services with them, with the aim of enhancing tourism. We are pleased to be part of these efforts aimed at strengthening the maritime economy and improving the quality of life in the region.”

Sulaiman Altunaib, co-founder and CFO of Waves, highlighted that the company had a great success in Kuwait and aims to expand its presence in new countries such as Dubai in the United Arab Emirates and new regions such as the Eastern Province in the Kingdom of Saudi Arabia, which reflects our commitment to provide unique experiences for customers wherever they are and meeting their needs in a distinguished manner through the integration of a variety of complementing services.

He added, “We are committed to digitalizing the marine tourism sector in the countries we operate in, in cooperation with tourism authorities, relevant government agencies, and local partners to achieve our common goals of promoting aunique digital tourism customer experience.”

Waves app is considered the first of its kind in the world, as the application provides the service of booking trips, marine activities, and chalets electronically with ease. It also provides the service of ordering food and marine equipment with the cruise, provided that the orders are delivered to the yacht/boat before its departure. It is all about expanding the digital economy into marine services and sea tourism. Waves App is currently operational in Kuwait, Kingdom of Saudi Arabia, Qatar, and United Arab Emirates.


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