Share WhatsApp Email 0 SharesOpontia, a Dubai-headquartered startup that wants to acquire and grow ecommerce brands has raised $20 million in debt and equity in a seed round from Global Founders Capital, Presight Capital, Raed Ventures, Kingsway Capital. The majority of the funding came in form of debt, the startup told MENAbytes, without disclosing the exact breakdown. It is the largest seed round raised by a startup in the Middle East & North Africa. There are hardly any exit options in the market for ecommerce brands of this size in the Middle East. Opontia also has plans to acquire ecommerce businesses in Egypt, Turkey, and Nigeria, later this year.

Source: The North Africa Journal June 03, 2021 20:26 UTC