A Dubai-based on-line today got a 2.7 million (AED10 million) funding for its company which intends to help grow its products through the middle east region. Wee, which is a company providing toys, clothes and other children’s products, has raised a capital. The investment came from Dubai’s venture capital firm Global Ventures.
Would you like to delve into more information on this financing deal and the impact that it can have on Wee’s operations? In 2020, authorities set up a business to concentrate on the creation of the number one in the Middle East online shopping web-site preoccupied with parents and children. It traded in the e-commerce platform and mobile which allows clients to access and buy large numbers of products from the top brands locally and internationally.
Wee has demonstrated dramatic sales growth in just two years and the number of mom and dad-customers in search of online shopping for the needs of their children shows no sign of decreasing. The allocation of fresh money will likely spur the organization to speed up its expansion project. Therefore, a large chunk of the funds will be allocated on marketing-related activities such as promoting Wee’s product and getting new customers. The entire venture aims to at least raise the number of active customer users by the end of the next year, utilizing success-oriented campaigns.
Additionally, the investment will support Wee’s efforts to onboard more local and regional brands onto its marketplace. This will give customers an even bigger selection of kids products from different categories. The company is also planning to launch new services like styling boxes and curated bundles specially created for kids of different ages.
Wee currently serves customers in the UAE, Saudi Arabia and Egypt. With the fresh capital, it now eyes entering new Middle Eastern markets like Kuwait, Oman and Bahrain as well. The startup also wants to strengthen its presence in existing countries through strategic partnerships with major retailers and influencer marketing.
This funding round validates the tremendous potential being shown by the children’s e-commerce sector across the Gulf region. More parents are turning to online platforms for their kids’ shopping needs due to convenience. Startups like Wee are well-positioned to capture this opportunity by offering a wide assortment of products from leading brands on their websites and apps. The investment will certainly help accelerate its growth plans in the coming period.
