An important milestone has been announced by WEE, the innovative marketplace renowned for its quick product delivery throughout the UAE: a $10 million infusion (comprising equity & credit facilities) from SIG Investment, demonstrating confidence in WEE’s abilities and vision. WEE’s valuation soars to an astounding $40 million thanks to this most recent investment.
Differentiating itself in the thriving UAE e-commerce scene, WEE has won praise for its unparalleled delivery offerings, which are evocative of the successful American Target Plus model. WEE provides customers in Dubai with the ease of ordering goods, promising delivery within an hour, and extending to next-day delivery for the remaining emirates through its exclusive network of reliable partners.
WEE Marketplace is positioned for even greater success under the skillful direction of co-founder and CEO Anastasia Kim, as well as the forward-thinking leadership of co-founders Oleg Dashkevich and Sergey Kolikov.
“The investment is set to enhance WEE’s standing in the e-commerce sector within the UAE, enabling us to upgrade our logistics capabilities, expedite widespread growth, and fortify our team. Our primary focus will revolve around advancing the fashion category with innovation in the UAE service of partial purchase and fitting as well as highlighting live streamings. We will also introduce new services to the super app ecosystem,” said Anastasia Kim, CEO and cofounder of WEE.
After concluding a successful pre-A round of investments with $10 million from SIG Investment, WEE was further strengthened by an additional $2 million from current shareholders. These investments highlight WEE’s enormous potential, as seen by the fact that in just two years, it has gained audiences in the UAE and formed strategic partnerships with prominent figures in the local industry.
Having previously raised $6.5 million to expand in the United Arab Emirates, WEE is unwavering in its goal of bringing in more funding to grow its operations there and expand into the GCC.
Adopting a progressive strategy, WEE is ready to build a massive ecosystem around its super app, which will allow it to easily integrate payments, shopping, taxi services, and other services. WEE is also actively looking into the potential of an IPO in the MENA area, demonstrating its dedication to long-term growth and sustainability.
“WEE has entered the UAE market recently, but has already been able to win over the audience and offer a unique fast delivery service in the selected time slots. The company understands e-commerce trends and therefore knows what partners need now and how the customer experience will evolve,” added Sami M. Al Mohammad, Group CEO of SIG Investments.
WEE is in a good position to profit from the growing e-commerce market in the United Arab Emirates, which is expected to reach $20 billion by 2027 and of which express delivery accounts for a sizeable portion. Leading product categories like food, medicine, flowers, and cosmetics are expected to see significant growth, highlighting WEE’s critical role in determining the direction of eCommerce in the area.
