Sprii’s impressive funding spree

July 17 -23, 2019

Gulf Weekly Sprii’s impressive funding spree

Middle East based mums can look forward to an expanded offering of products online as Dividend Gate Capital (DGC), a Bahrain Financial Harbour based private equity firm, invested in Sprii, an up and coming online shopping hub for mothers across the region.

Sprii, which just closed its Series A round of investment, has had an impressive start to the year delivering 20 per cent month-on-month growth while launching operations in Saudi Arabia and expanding presence in Kuwait, Oman and Bahrain. It connects local partners to current and aspiring mums, providing same-day deliveries, a free 14-day return policy and convenient customer support.

Strong leadership and tech-driven strategy emphasising an inventory-free model made this an attractive investment for the emerging technology segment of DGC’s portfolio.

Khalid Al Hammadi, CEO of DGC said: “Our mantra is to focus on people first at DGC, investing alongside capable, intelligent, driven entrepreneurs with a hunger for growth and success; Sprii fit our criteria perfectly.”

Sprii started at a kitchen table with two employees, growing into a strong regional presence with a team of more than 100 employees and recently launched mobile apps which allow mothers on the move to peruse school, bath, baby and fashion products on-the-go.

Sprii has raised a total of $13m of investment, while building strategic partnerships with existing retail, logistics and finance players and hiring experts in big data analytics to optimize supply chains.

Founder Sarah Jones added: “Our proven success has helped us finalise our funding round early, so we can get back to focusing on delivering our promise to our loyal customers.”

Sprii also allows customers to pay cash on delivery, a much-demanded feature in the region, and with an expanded choice of products on the horizon, working mums can stay on top of all their duties, while staying cool this summer.

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