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FinancialNews
14-12-19
Saudi-based e-commerce startup closes USD5.6 million in Series B funding
(MENAFN) As said in a statement by Dokkan Afkar, a Saudi-based e-commerce startup, it closed USD5.6 million in Series B funding round.
The funding round was organized by Business Incubators and Accelerators Company (BIAC) and was joined by Riyad TAQNIA Fund, Saudi Venture Capital Company and many local investors.
The startup, founded in 2013, aims to use the new capital to expand across the Middle East by growing its product categories and inventory.
According to Dokkan Afkar co-founder and CEO Ammar Waganah, "we look forward to expanding into the rest of the Arab region, followed by entering into a number of international markets".
The investment in the startup plans to facilitate entrepreneurship and innovation in the Kingdom, as said by Nawaf Al Sahhaf, CEO of BIAC.
MENAFN1412201900450000ID1099421397
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