Dubai-based digital grocery coupons and deals platform Clip the Deal, has raised a seven-figure Series A investment round led by Optiscape Network Holdings, a UAE-based retail and distribution Investment group, with participation from NB Ventures and Mishaal Alireza.
The company plans to use the funds to expand into new markets and categories, develop its technology, and grow its talent pool.
“We see tremendous growth opportunities as we look to change the way consumers approach the $150 billion grocery retail in GCC alone,” said Padam Chhabra, CEO and co-founder of Clip the Deal. “Our loyal customer base of over 200,000 users and the 200 per cent y-o-y transactional growth through 2019 is a testament to the robustness of our technology, platform, and offering.”
A spokesperson for Optiscape Network Holdings, said: “Innovation and anticipating future customer needs has been the key to the success of our group and we see Clip the Deal as a very important strategic partner in the years to come. We are already working with the team to help in the expansion of Clip the Deal and leveraging our five decades of GCC retail experience and contacts.”