Souq.com raises over AED 1 bln for expansion

Monday 29 February 2016 | 09:04 CET | News
Souq.com, the Middle East e-commerce platform, announced that it has completed a funding round of more than AED 1 Billion (USD 275 million). The significant investment will support the company's future growth, strengthen e-commerce in the region and empower more businesses to grow online through Souq.com's platform. Investors in this round include New York-based Tiger Global Management and South Africa's Naspers, both of which had invested in Souq.com in earlier funding rounds. Souq.com also added new strategic investors to diversify its investor base, including Standard Chartered Private

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Categories: Internet
Companies: Naspers
Countries: Middle East
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