Fetchr closes Series B funding


May 21, 2017 | By RetailME Bureau

Dubai-based delivery app Fetchr – which tracks customers’ smartphones to determine their geolocation for package delivery – has announced the closing of a $41 million Series B funding round led by New Enterprise Associates.

Majid Al Futtaim was a key regional investor in the round; other investors including Nokia Growth Partners, Raed Ventures, Iliad Partners, BECO Capital, YBA Kanoo, Venture Souq and Swicorp.

“Our success is another proof that start-ups are disrupting the region and its traditional business models. I am very happy we managed to gather some of the best funds from the Silicon Valley, and regionally too with the support of Majid Al Futtaim,” says Fetchr founder & CEO Idriss Al Rifai. “We want to change the way logistics is being operated and make your phone your home and put the customer on the driver’s seat of his own experience.”

“We hope that this round of funding will shine a light on this region of the world and pave the way for other investors to look at the incredible talent and ideas brewing here. The start-up revolution here is in its early stages and we feel immense responsibility to pave this road for others and look forward to the challenge,” adds co-founder Joy Ajlouny.

Fetchr currently operates in the UAE, Saudi Arabia, Egypt and Bahrain and plans to use the funds to further expand its footprint in the Middle East & North Africa and other markets.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau
Majid Al Futtaim Retail commits to Collaborative Impact Goals at COP28

Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour 

Continue Reading

December 8, 2023 | By Rupkatha B
BinDawood Holding Company earns Honorary Shield for Compliance Excellence

BinDawood Holding Company has earned an Honorary Shield, a distinguished recognition by 

Continue Reading

December 6, 2023 | By RetailME Bureau
First Movers Coalition for Food to create up to $20-bn value chain for sustainable farming

The World Economic Forum, with support from the Government of the United 

Continue Reading

December 5, 2023 | By RetailME Bureau
Food consumption in the GCC to grow at a steady pace

Food consumption in the GCC is set to grow at a CAGR 

Continue Reading

November 29, 2023 | By RetailME Bureau




Download Images RetailME Magazine