UAE-based e-commerce startup WEE has successfully concluded a pre-Series A round, securing a total investment of $12 million. This funding includes a substantial $10 million investment, comprising both equity and credit facilities, from SIG Investment. Founded in 2021 by Anastasia Kim, Oleg Dashkevich, and Sergey Kolikov, WEE stands out as an online marketplace renowned for its rapid delivery services. The infusion of capital will facilitate enhancements in WEE’s logistics capabilities, accelerate its expansion efforts, and bolster its team.
WEE, recognized as a trailblazing marketplace renowned for its swift product delivery throughout the UAE, achieves a significant milestone with the $10 million investment from SIG Investment. This investment, combining equity and credit facilities, elevates WEE’s valuation to an impressive $40 million, highlighting the confidence in the company’s vision and capabilities.
Distinguishing itself within the vibrant UAE online marketplace, WEE has garnered praise for its unparalleled delivery services, akin to the esteemed American Target Plus model. Leveraging an exclusive network of trusted partners, WEE empowers consumers in Dubai by offering the convenience of ordering goods with a promise of delivery within the hour. This service extends to next-day delivery for customers across the rest of the emirates.
Under the adept leadership of CEO and co-founder Anastasia Kim, alongside the visionary guidance of co-founders Oleg Dashkevich and Sergey Kolikov, WEE Marketplace is poised for further growth and success.
“The investment is set to enhance WEE’s standing in the e-commerce sector within the UAE, enabling us to upgrade our logistics capabilities, expedite widespread growth, and fortify our team. Our primary focus will revolve around advancing the fashion category with innovation in the UAE service of partial purchase and fitting as well as highlighting live streamings. We will also introduce new services to the super app ecosystem,” said Anastasia Kim, CEO and cofounder of WEE.
Following a $10 million injection from SIG Investment, WEE successfully wrapped up its pre-Series A round, further bolstered by an additional $2 million from existing shareholders. These investments underscore the significant potential of WEE, which, within just two years, has captured the attention of audiences in the UAE and formed strategic partnerships with local industry leaders.
Having previously secured $6.5 million for expansion within the UAE, WEE remains dedicated to its mission of attracting additional investments to scale operations within the UAE and expand into the GCC region.
Adopting a forward-looking strategy, WEE aims to cultivate a comprehensive ecosystem around its super app, seamlessly integrating shopping, taxi services, payments, and more. Additionally, WEE is actively exploring the possibility of an IPO in the MENA region, signaling its commitment to long-term sustainability and expansion.
For More Details: https://thecioworld.com
