AfricInvest Maghreb Private Equity Fund invests USD 30 million in ArabyAds

AfricInvest, a leading African investment platform, aims to support ArabyAds’ growth and regional expansion.

AfricInvest Maghreb Private Equity Fund IV, administered by AfricInvest, a leading African investment platform, has invested USD 30 million in a Pre-Series B funding round in ArabyAds, a leading MENA region AdTech firm.

The deal marks AfricInvest’s Maghreb Private Equity Fund IV eight investment. The fund provides growth capital to small and mid-cap companies, allowing them to expand regionally and across Africa and aims to support general growth and job creation. ArabAds will use the funds to further its footprint and invest in technologies and the hiring of staff to support the company’s growth.

AfricInvest: Pan-African investments

AfricInvest is a pan-African investment platform active in multiple alternative asset classes including private equity, venture capital, private credit, and listed equities. Over the past 25 years, the company has raised more than USD 2 billion in finance for approximately 200 companies at various development stages.

ArabAds was founded with a mission to innovate and deliver measurable results to advertisers through a data- and transparency-led approach to e-commerce. ArabyAds began in Egypt in 2013 and is headquartered in the UAE with tech hubs in Egypt, Tunisia and Jordan. The company assists advertisers in customer acquisition, retention, and monetization through its platforms for influencer marketing (iConnect), Coupon based advertising (Boostiny), retail media (Ritelo), live commerce (Dmenta), and on-device contextual advertising (Deviceboost).

Transforming the digital landscape

Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds, said of the deal, “We are delighted to welcome AfricInvest as one of our long-term investors and thank them for placing their trust in our vision to build value for all stakeholders in the ecosystem.”

He went on to say that, “ArabyAds is committed to transforming the digital advertising landscape with innovation and has been leading the way to deliver performance advertising with its platform offerings. Our fundamentals are strong, and as one of the fastest and profitably-growing companies in the MENA region, ArabyAds is now looking to expand its presence in newer markets where it can leverage its scalable, secure, and end-to-end platforms to help e-commerce businesses scale effortlessly across the globe.”

Skander Oueslati, Chief Investment Officer at AfricInvest said, “We are pleased to partner with ArabyAds at a time when the technology company is looking to further disrupt the AdTech industry through its transformative technology platforms. ArabyAds has established a strong brand and excellent reputation in the MENA region and is widely recognized for its reliability and expertise in digital marketing and advertising.”

Investment in MENA startups slowed last month, though Egypt remains an attractive destination for FDI.