UAE-based WEE Marketplace has secured a notable investment of USD 10 million from SIG INVESTMENT consisting of equity and credit facilities, catapulting its valuation to a robust $40 million. This marks a strategic milestone for WEE, which is recognized for its rapid product delivery services akin to the American Target Plus model, especially within Dubai. Anastasia Kim, the CEO and co-founder along with her team, have been pivotal in WEE’s swift ascendancy in the eCommerce market. This capital injection, encompassing a pre-A round and additional funds from existing shareholders, will enhance WEE’s logistics, expedite growth and innovation, particularly in the fashion sector, and broaden services within its super app. Strategic alliances, a solid customer base, and the exploration of an IPO in the MENA region are all part of WEE’s ambitious growth trajectory. The company aims to further expand its presence in the GCC, and with the eCommerce market in UAE expected to hit $20 billion by 2027, WEE Marketplace is poised for significant growth, underpinned by express delivery services in in-demand categories such as cosmetics, pharmaceuticals, and food products.

E-Commerce, Venture Capital & Private Equity, Logistics & Supply Chain,United Arab Emirates

https://www.zawya.com/en/press-release/companies-news/wee-marketplace-secures-usd10mln-investment-from-dubai-based-firm-embarking-on-a-new-era-of-growth-nhsnmi0u