ArabyAds, a performance marketing company, has raised $6.5 million in its Series A round from investment arm of Choueiri group Equitrust, which acquired an undisclosed stake.
ArabyAds aims to help its business partners predict and measure the return on their advertising spend and allows them to grow their sales while trying to keeping marketing spend under control.
“We are excited to partner with ArabyAds, a company that was able –with no external funding so far- to quickly emerge as a market leader in [the Middle East and North Africa’s] fast-growing performance marketing industry,” said Patrick Thiriet, chief strategy officer of the Choueiri Group. “There are many synergies to explore and implement, both with Equitrust’s other portfolio companies and with Choueiri Group’s unique advertising footprint in the region.”
ArabyAds has been operating in the GCC market since 2013, with offices in both Egypt and Dubai and claims to have delivered its solutions to more than 450 clients including Landmark, Emaar, Etihad Airways, Souq.com, Jumia.
“We are looking forward to strengthen our brand, and to gain access to more regional clients that are looking to boost their sales through advertising,” said Mahmoud Fathy, chief executive officer at ArabAds. “Arabyads had reached a stage where a capital injection was needed to expand further and continue delivering new solutions to regional advertisers. What we needed was the right partner, and Choueiri Group emerged quite naturally as a name of choice.”