Egypt's startup ArabyAds raises US$30 Million in Pre-Series B funding round

ArabyAds, the leading AdTech company in the MENA region, announced that it has raised US$30 Million in Pre-Series B funding round from AfricInvest.

AfricInvest is a leading pan-African investment platform managing multiple alternative asset classes including private equity, venture capital and private credit. 

ArabyAds was Founded in 2013 by Mahmoud Fathy and Mohammad Khartabil, the Egypt-born company is currently headquartered in the UAE and has offices in Egypt, Tunisia and Jordan. ArabyAds offers online and in-app marketing and data insight tools in more than six countries, according to its website, and last year acquired influencer marketing agency Dmenta, which also operates in Egypt.

ArabyAds will use this new financing to expand its footprint and further invest it to accelerate its technological advancement and talent acquisition to support the growth. 

In a press release, Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds, commented:
“We are delighted to welcome AfricInvest as one of our long-term investors and thank them for placing their trust in our vision to build value for all stakeholders in the ecosystem.”

He added: “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.”

“We welcome AfricInvest to the ArabyAds family and thank them for trusting our capabilities. We have identified new business opportunities and markets that will help us drive the growth momentum in the AdTech space, and the funding will allow us to accelerate our plans. Our single focus is to create unmatched value for all our stakeholders and revolutionise e-commerce businesses through our transformative technology platforms,” said Mohammad Khartabil, Chief Business Development Officer and Co-Founder of ArabyAds.

This is the eighth investment by AfricInvest’s Maghreb Private Equity Fund IV. The EUR 194 mn fund reached its final close in 2018 and targets North African SMEs operating in sectors including IT, healthcare, education, logistics, agribusiness, and services. It is backed by development finance institutions including the African Development Bank, the European Bank for Reconstruction and Development, and the European Investment Bank.