Wadi.com is an Amazon-like marketplace launched in 2015 and is part of the Middle East Internet Group (MEIG), a joint venture between Rocket Internet and MTN. It currently operates in the United Arab Emirates and Saudi Arabia and offers more than 150,000 products from over 2,000 international brands. The company does not operate its own warehouses; it sources products from a wide variety of retailers and sellers across the region, which the team says enables faster delivery. Wadi plans regional expansion into other Gulf countries including Bahrain, Kuwait, Oman and Qatar, and is eyeing Jordan. The company intends to use investment to expand customer services, improve logistics capacity to deliver quicker, and invest in IT and software to manage hundreds of thousands of suppliers. Wadi faces strong competition from incumbents such as Souq.com and operates in a market where cash-on-delivery is dominant and logistics are a key challenge. The company did not disclose sales figures.

Total raised

$67M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2016