Mojo, the premier beauty, skincare, and wellness-focused social commerce company in the area, is excited to announce the successful closing of its highly anticipated seven-figure Seed Round. Leading investors in the round, Mojo’s mission to reinvent social commerce in the beauty and wellness space reaches a major turning point.
Leading regional investors including Plus VC, Atyab Al Marshoud, Wahed Invest, and several strategic angel investors who have invested in successful startups are among the new participants in the round, joining established pre-seed investors Joa Capital and Emkan Capital.
Mojo was founded in 2022 by Abdulaziz Al-Bahar, the CEO and founder, and Nadia Al-Hamad, the co-founder and chief brand officer (CBO). Through its cutting-edge social commerce platform, Mojo aims to enable beauty enthusiasts to easily find, share, and buy premium skincare, beauty, and wellness products.
With over 100 top beauty and wellness brands on the platform, Mojo has experienced exponential growth over the past few months, culminating in this investment.
Abdulaziz Al-Bahar, Founder and CEO of Mojo, expressed his excitement about the oversubscribed seed round, stating, “We are thrilled to have received the support of prominent investors as we proceed into the next phase of growth and continue to revolutionize the beauty and wellness industry. Their backing offers great validation for our steady execution thus far and underscores our confidence in Mojo’s vision and potential to be a true game changer for the industry.”
“At Mojo, our strategy is to provide beauty enthusiasts with the power of social networking combined with online shopping. Today, we are proud to be the first-of-its-kind in the MENA region to offer our users a highly curated selection of products and an authentic space that enables creators to showcase and monetize their content while connecting with new audiences. This unique and novel approach has yielded impressive results, with monthly revenue growing 22x last year.”
Following the successful completion of its seed round, the company intends to use the money to enhance its industry-leading technology stack, recruit fresh personnel, and fortify its position through regional expansion, specifically in Saudi Arabia.
Yousef Al-Yousefi, Managing Partner at Joa Capital, said, “Mojo’s founding team’s exceptional strength and capability have been instrumental in navigating the lucrative but complex beauty and cosmetics market landscape with a highly differentiated product that they continue to fine tune and scale up. We are proud to be part of Mojo’s journey and eager to see the company’s exponential growth in the coming years.”
