6 years ago

Awok Raises $30 Million to Expand in Saudi Arabia

  • Awok, an e-commerce platform, has secured $30 million in funding from StonePine Capital Partners, ACE & Company SA, and Al Faisaliah Ventures

  • The funding will be used to expand Awok's reach within the GCC, particularly in Saudi Arabia, and to expand its product offerings

  • Awok plans to scale its operations across key growth markets in the GCC countries and North Africa

  • The company has been a pioneer in servicing a previously untapped segment of the market with a unique product selection

  • E-commerce sales have been picking up in the region, thanks to a boom in tech-savvy population

  • Saudi Arabia, in particular, has matured as an e-commerce market with consumers spending millions annually.

      • ProblemRetail

      "Many consumers in the GCC, particularly in underserved market segments, lack access to affordable and diverse products."

      Solution

      "Awok is an e-commerce platform offering a wide selection of products at competitive prices, catering to a previously untapped segment of the market in the GCC and expanding its reach within the region."

      Covered on