Egypt’s ArabyAds, the leading ad-tech company in the MENA region, has raised US$30 million in Pre-Series B funding round to expand its footprint regionally and globally.
Founded in 2013 in Egypt, with headquarters in the UAE and tech hubs across Egypt, Tunisia and Jordan, ArabyAds helps advertisers in customer acquisition, retention, and monetisation by leveraging its technology platforms for influencer marketing (iConnect), coupon based advertising (Boostiny), retail media (Ritelo), live commerce (Dmenta), and on-device contextual advertising (Deviceboost).
The US$30 million pre-Series B funding comes from AfricInvest, a leading pan-African investment platform managing multiple alternative asset classes including private equity, venture capital and private credit. Provided via the AfricInvest Maghreb Private Equity Fund IV, the new financing will be used by ArabAds to expand its footprint and accelerate its technological advancement and talent acquisition.
“We are delighted to welcome AfricInvest as one of our long-term investors and thank them for placing their trust in our vision to build value for all stakeholders in the ecosystem,” said Mahmoud Fathy, CEO and co-founder of ArabyAds.
“ArabyAds is committed to transforming the digital advertising landscape with innovation and has been leading the way to deliver performance advertising with its platform offerings. Our fundamentals are strong, and as one of the fastest and profitably-growing companies in the MENA region, ArabyAds is now looking to expand its presence in newer markets where it can leverage its scalable, secure, and end-to-end platforms to help e-commerce businesses scale effortlessly across the globe.”
Skander Oueslati, chief investment officer at AfricInvest, said he was pleased to partner with ArabyAds at a time when it was looking to further disrupt the ad-tech industry through its transformative technology platforms.
“ArabyAds has established a strong brand and excellent reputation in the MENA region and is widely recognised for its reliability and expertise in digital marketing and advertising,” he said.