Mobily Ventures announces their part in Fetchr's $11M round

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Mobily Ventures, the capital arm of Etihad Etisalat in Saudi Arabia, has announced their involvement in the funding round of shipping and logistics app Fetchr.

Announced back in June the Dubai-based app received a funding round of $11 million lead by New Enterprise Associates, and including Delta Partners, Dhabi Holdings, Roland Berger and 500 Startups. 


Fetchr. (Image via Facebook)

Fetchr - which caters to individuals and businesses - is addressing last-mile delivery issues common in the Middle East and other areas with inconsistent or non-existent addresses. The company uses GPS technology to track the sender’s location, pick up orders and deliver the package at a time and day specified within the app. 

"Fetchr is poised to be a strong partner for any ecommerce player in the region," said Jihad Alammar from Mobily Ventures. "A lot of the established shipping providers were built for B2B initially and are facing challenges switching to B2C and C2C, Fetchr was designed from the start to provide a first-class solution for B2C and C2C." 

Fetchr offers businesses different services through the app: tracking shipments in real-time; last-mile delivery; same day delivery and return, online inventory management; customer care management; cash on delivery, and customer segmentation service - which helps reduce return rates by identifying customers likely to return their orders.

Financial details of the deal and future plans have not been disclosed. Wamda has reached out to Mobily Ventures and Fetchr for comment.

"We’re looking for expansion, customer acquisition rights, getting more people to download the app," said Fetchr cofounder Joy Ajlouny in June while discussing plans for the company.

Stay tuned for updates.

 

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