Golden Scent closes new round of investment

Malik Shehab, founder of Golden Scent. Image courtesy of Golden Scent

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Saudi Arabia-based e-commerce platform Golden Scent has closed a new round of investment, the company announced, without disclosing the size of the deal. Investors included Wamda Capital and Saudi Aramco's venture arm, Wa’ed.

The investment will be used to centralise and expand its Dubai office and logistics centre and updating its in-app features.

The platform, founded in 2014 by Malik Shehab and Ronny Froehlich offers fragrance and beauty products from more than 300 different brands.

“We strongly believe that this category still has very significant room for growth and this latest investment is representative of our continued support for Malik and Ronny in executing against their vision,” said Khaled Talhouni, managing partner at Wamda.

Golden Scent raised an undisclosed amount for its Series A back in December 2017. That round was backed by top-tier vehicles such as Wa'ed, Equitrust, the investment arm of Choueiri group, Wamda Capital, and Raed Ventures, the investment arm of Almajdoui Holding.

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