- Exploring the possibility of an IPO in the MENA region, signaling its commitment to long-term sustainability and growth.
Dubai-based online marketplace – WEE – has secured a $10 million “pre A” funding from SIG Investment to expand its logistics capabilities and develop an expansive ecosystem around its app.
WEE empowers consumers in Dubai with the convenience of ordering goods, promising delivery within the hour, and extending to next-day delivery for the rest of the emirates.
“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 streaming. We will also introduce new services to the super app ecosystem,” Anastasia Kim, CEO and cofounder of WEE, said.
WEE has further fortified by an additional $2 million from existing shareholders. These investments underscore the immense potential of WEE, which, in just two years, has captivated audiences in the UAE and forged strategic alliances with local industry leaders.
Having previously secured $6.5 million for expansion in the UAE, WEE remains steadfast in its mission to attract further investments to scale operations within the UAE and extend its footprint into the GCC region.
WEE is set to develop an expansive ecosystem around its app, seamlessly integrating shopping, taxi services, payments, and more. Furthermore, WEE is actively exploring the possibility of an IPO in the MENA region, signaling its commitment to long-term sustainability and growth.
“WEE has entered the UAE market recently but has already been able to win over the audience and offer a unique fast delivery service in the selected time slots. The company understands e-commerce trends and therefore knows what partners need now and how the customer experience will evolve,” Sami M. Al Mohammad, Group CEO of SIG Investments, said.