Dubai: Gulf Islamic Investments (GII), a UAE-based financial services company, announced a major investment in the booming e-commerce sector with the successful closing of an extended Series B Equity Funding round in Mumzworld.
Mumzworld specialises in products related to mothers, babies and children. This investment makes GII the largest shareholder in Mumzworld.
“[The] UAE serves as an e-commerce gateway to other oil-rich markets in Middle East with advanced technological infrastructure and the uniting Arabic language. We spot the opportunity at this point in time for Mumzworld to continue its expansion and innovation and we at GII are committed to working together with its founders and management team to take the company to new peaks in the next 4 to 5 years,” said Pankaj Gupta, co-founder & CEO for UAE operations at GII.
