ArabyAds has announced that it raised $30 million in Pre-Series B funding round from AfricInvest, a leading pan-African investment platform . ArabyAds is a leading AdTech company in the Middle East and Northern Africa (MENA) region.
The AdTech company will use the new financing to expand its footprint and further invest it to accelerate its technological advancement and talent acquisition to support the growth. The transaction marks the eighth investment for for AfricInvest’s Maghreb Private Equity Fund IV, which provides growth capital to small and mid-cap companies to expand regionally and across the African continent, spurring productivity growth and sustainable job creation.
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 monetization 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).
ArabyAds co-founder and CEO, Mahmoud Fathy expressed his delight as the company welcomes AfricInvest as one of their long-term investors and thank them for placing their trust in our vision to build value for all stakeholders in the ecosystem.
“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,” he said.
On his part, AfricInvest’s Chief Investment Officer said that the investment platform is pleased to partner with ArabyAds.
“We are pleased to partner with ArabyAds at a time when the technology company is looking to further disrupt the AdTech industry through its transformative technology platforms. ArabyAds has established a strong brand and excellent reputation in the MENA region and is widely recognized for its reliability and expertise in digital marketing and advertising,” he said.