Arab Finance: The UAE-based social e-commerce platform Ecombo is targeting $10 million investment round by the end of 2024 to expand its business horizon in the Gulf region, as per an emailed release on June 13th.
The firm aims to expand in the Saudi and Omani markets in the coming days as part of their expansion plan in the Gulf and, then, the Arab region, Ecombo's Founder and CEO Faris Ibrahim noted.
The company has already purchased several warehouses in both countries to serve as distribution and sale centers.
“Our expansion into new markets further demonstrates our commitment to empowering individuals and driving the growth of social commerce in the MENA region,” Ibrahim commented.
Founded in 2022 by Egyptian entrepreneurs Fares Senior and Abdallah Elbarbary, Ecombo offers a digital warehouse and a virtual platform for merchants and suppliers.