One of MENA’s most successful online startups will soon be launching the region’s first women-only investment round to attract female investors.
Mompreneur website in MENA
Mumzworld.com, MENA’s premier online shop selling merchandise related to mothers and children, is seeking to expand its operations after achieving tremendous success over the past few years. Founded by Mona Ataya, the online business will be offering female investors a chance to become a part of region’s growing e-commerce market and also become financially independent. The investment round will end on 20 September, and potential investors are being encouraged to directly contact the business.
According to Ataya, the site’s CEO, “Mumzworld is a company built by mothers, for mothers. Since launch we have always been committed to giving the very best to our customers. This investment opportunity is a natural extension of that ethos – to empower women in the region to contribute and grow. We wanted to give the opportunity to mothers, like myself, who are educated and want to give back to their community and their families while still being able to dedicate 100 percent of their time to raising their children.”
A report by global payment solutions provider VISA Incorporated states that the Middle East and North Africa region recorded the fastest growth in the world for e-commerce. The UAE is seen as a leader in e-commerce market, with online spending totaling around USD 2 billion in 2010. It is estimated that UAE’s online spending accounted for about 55 percent to 60 percent of total GCC e-commerce sales last year. The UAE online retail market is followed by Saudi Arabia (USD 520 million), Qatar (USD 375 million), Kuwait (USD 280 million), Bahrain (USD 175 million) and Oman (USD 70 million).
The baby and toy segment is an under-tapped yet high potential segment for the e-commerce market as young mothers seek good quality and branded goods for their children. The segment is valued at around USD 8 billion and offers a significant investment opportunity for emerging online businesses.