ArabyAds, a leading provider of marketing solutions in MENA, just got a massive financial boost after scoring $6.5 million in a Series A round. The source of the new fund, Equitrust, is the investment wing of Choueiri Group, a media representation firm.
In exchange for the capital, Equitrust acquired an undisclosed stake in the company.
Interestingly, this happens to be the first fundraiser by ArabyAds since its launch in 2013. The company currently operates in the UAE and GCC markets with offices in Dubai and Egypt.
ArabyAds offers clients a unique platform where they can leverage a wide range of performance-based marketing solutions. The company’s services enable advertisers to predict and assess the performance of their ads and the return-on-investment, which in turn, makes it easier to enhance sales while keeping unwarranted marketing spending in check.
Speaking on Equitrust’s decision to invest in ArabyAds, Patrick Thiriet, Chief Strategy Officer at Choueiri Group, said: “There are many synergies to explore and implement, both with Equitrust’s other portfolio companies and with Choueiri Group’s unique advertising footprint in the region.”
ArabyAds says they will utilize the new funds to further strengthen the company’s brand value and clientele. The company has served more than 450 clients till date including heavyweights such as Landmark, Vlcc, Emaar, Etihad Airways, and Souq.com, just to name a few.
“Although our organic growth has been rather stellar year on year, ArabyAds had reached a stage where a capital injection was needed to expand further and continue delivering new solutions to regional advertisers,” said Mahmoud Fathy, founder of ArabyAds.