WEE's $10 Million Pre-Series A Funding Marks Milestone in UAE E-commerce

WEE's $10 Million Pre-Series A Funding Marks Milestone in UAE E-commerce

By Staff Writer, 29 April 2024

UAE's burgeoning e-commerce scene witnesses another milestone as WEE, a Dubai-based online marketplace, secures a significant pre-Series A funding round valued at $10 million. The investment, led by SIG Investment, boosts WEE's total valuation to $40 million, marking a substantial leap in its journey toward market dominance.

Founded in 2021 by Anastasia Kim, Oleg Dashkevich, and Sergey Kolikov, WEE has swiftly gained traction by revolutionizing the shopping experience for consumers in Dubai. Specializing in rapid delivery services, the platform has carved a niche for itself, offering unparalleled convenience to shoppers in the bustling metropolis.

Anastasia Kim, CEO and Co-Founder of WEE, expressed her enthusiasm about the latest infusion of capital, highlighting its potential to bolster the company's logistical capabilities and fuel its expansion endeavors. With a keen eye on innovation, Kim outlined WEE's strategic focus on enhancing its fashion category, introducing novel services such as partial purchase options and live streamings, and integrating new features into its super app ecosystem.

This funding round comes on the heels of a previous investment of $6.5 million aimed at amplifying WEE's presence in the UAE. Looking ahead, the company is actively seeking additional investments to accelerate its growth trajectory within the UAE and extend its reach across the GCC region.

Amidst its rapid ascent, WEE is also exploring the prospect of an initial public offering (IPO) in the MENA region, underscoring its commitment to long-term sustainability and market expansion.

Sami Al Mohammad, Group CEO of SIG Investments, lauded WEE's remarkable achievements in a relatively short span, commending its ability to captivate the audience and deliver an exceptional fast delivery service tailored to meet the demands of discerning consumers.

Source: Mubasher

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