UAE E-commerce Specialist Wiz Holding Looks to Expand Across MENA with New $2 Million Investment
With the seed funding round coming via international investors from the US, Canada and KSA, region-wide expansion beckons.
The Dubai-based Wiz Holding has announced that it set to amp up plans for the MENA-wide expansion of its Wiz Shops platform, after raising a $2 million seed funding round from undisclosed international investors from the US, Canada and Saudi Arabia.
With offices in Egypt and KSA, the company aims to empower SMEs to move their offline businesses online through the Wiz Shops platform, as the digital revolution washes over the region.
“As we are getting ready to launch Wiz Holding to lead the digital transformation of the MENA region, we have analysed the market and saw a gap in the offerings,” Wiz Holding founder and CEO, Mohammed Tayem, said. “We wanted to create a one-stop solution for e-commerce needs with all the support required by businesses to achieve their goals. To do that, we have headhunted our CXOs to maximise the opportunity and lead the transition with some of the best minds in the business."
The ambitious plans have, in part, been motivated by the difficult year many startups and businesses have faced, with the COVID-19 pandemic and subsequent lockdowns accelerating the need for simple digital solutions. Tayem and co. are not only looking to provide a digital platform, but also see Wiz Shops as a tool that can help raise profit margins and open up new revenue streams for SMEs.
