UAE-based Grocery Coupon Platform Clip the Deal Raises Seven-Figure Series A Round
A pandemic and an economic crisis might be the perfect time for a grocery coupon startup to leverage its tech and expand.
The digital grocery retail industry has seen a huge boom in the COVID era, one that’s likely to sustain even after the world emerges into a ‘new normal.’ With limited mobility, social distancing, and an economic climate that’s forced many to tighten their purse-strings, the current situation seems like the perfect opportunity for a startup that focuses on making groceries easier and cheaper for users across the UAE.
Clip the Deal has taken advantage of the moment to raise a seven-figure Series A round, a little over a year after their last investment round in 2019. The round was led by retail and distribution investment group Optiscape Network Holdings, with the participation of existing investors, NB Ventures and Mishaal Alireza.
Clip the Deal was the number one trending shopping app on the Google Play Store in the UAE in 2019, and its proprietary technology connecting offline retail with online product discovery and fulfillment was nominated for Best Tech-Collaboration at GITEX Awards 2019.
“We see tremendous growth opportunities as we look to change the way consumers approach the $150 billion-grocery retail market in GCC alone,” says CEO and Co-Founder Padam Chhabra. “Our loyal customer base of over 200,000 users and the 200% y-o-y transactional growth through 2019 is a testament to the robustness of our technology, platform, and offering.”
