Lebanon-based music streaming platform Anghami, has raised a fresh investment from UAE-based investment firm SHUAA Capital alongside other undisclosed private investors. The announcement was made by Jassim Alseddiqi, chief executive officer (CEO) at SHUAA Capital via LinkedIn. The terms and value of the deal were not disclosed.
This marks Anghami’s fourth investment raise to date. Prior to today’s investment, the startup closed its Series B investment back in 2016 in a round led by private equity firm Samena Capital, with participation from UAE telecoms operator Du.
Founded in 2012 by Maroun and Elie Habib, Anghami is the Middle East and North Africa (Mena) region’s first legal music streaming platform. It boasts over 21 million monthly active users listening to more than a billion songs every month.