Souq.com raises $75m funding [Khaleej Times (United Arab Emirates)]
(Khaleej Times (United Arab Emirates) Via Acquire Media NewsEdge) Souq.com, e-commerce platform in the Mena region, has secured $75 million (Dh275.5 million) in an additional round of funding from existing investor Naspers.
This round of funding brings the total amount raised by Souq.com to $150 million (Dh551 million) – the largest amount raised by any Internet-based business in the region. Building on its pioneering reputation in the ecommerce space in the Mena region, and with a strong supply chain and fulfillment system, Souq.com has grown more than 10-fold in the past two years.
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