Expansion across GCC is the primary objective
UAE-based mother, baby and child e-commerce website Mumzworld has commenced talks to raise new funds for expansion across the non-Gulf Cooperation Council (GCC) countries, its founder says.
In February 2016, the company successfully closed its Series B funding with multi-million dollar investments led by Wamda Capital, twofour54, and Endeavor Catalyst, aimed to support its expansion in the GCC.
The e-commerce site, which was launched in 2001 and offers versions in English and Arabic, and has more than 100,000 products, reaching out to some 650,000 mothers in the region.
In February 2017, a study conducted by Hootsuite and We Are Social found that 1.61 billion people or 22 percent of the global population purchased goods online in 2016.
The number of people using online shopping portals is increasing in the GCC with the UAE and Saudi Arabia recording substantial increases, the study found.