UAE's LYVE acquires majority stake in Jeebly
- UAE-based B2B logistics platform LYVE, has acquired a majority stake in Jeebly, a last-mile logistics provider based in the UAE.
- The acquisition will enable Jeebly to solidify its presence in its existing markets and expand its product offerings.
- Founded in 2016 by Raman Pathak and Ram Parashar, Jeebly currently caters to more than 500 global and regional clients.
- LYVE was founded in 2016 by Hassan Hallas and Walid Moneims, and operates across the UAE, Kuwait, Oman, Saudi Arabia, the United States, India and Pakistan.
- Last year, it raised a $35 million Series B round, with participation from Faith Capital.
Lyve Global is a B2B logistics SaaS platform founded in the UAE, enabling businesses to digitize their customer journey from order to payment to delivery. The company has recently acquired a majority stake in Jeebly, a leading UAE-based last mile delivery and logistics company.
Lyve’s acquisition of a majority stake in Jeebly marks a significant step as part of the company’s new investment strategy, which aims to expand its offerings and market reach.
Lyve has flourished since its inception in 2016, evolving into an end-to-end solutions provider. The company now uses cloud-based platforms and services to help facilitate hundreds of millions of orders every month on behalf of leading brands across the e-commerce, food and beverage, grocery, and healthcare industries.
By leveraging Lyve’s rich network, the acquisition will help to further accelerate Jeebly’s growth in its existing markets while also strengthening its operational capabilities to offer unique delivery solutions across the GCC.
Chief Investment Officer at Lyve, Nader Museitif, commented on the strategic investment: “This is an exciting time for us. In less than 12 months we have concluded 4 acquisitions. We have ambitious plans for the coming two years with total investment value reaching over $150 million. Jeebly has been an exceptional success story and we’re happy to be working together on the next stage of the journey. This is one of several investments that will complement our offering and we will be actively looking to acquire companies that add to our spectrum of services.”
Jeebly has experienced fast growth since it was first established in 2016 by Raman Pathak and Ram Parashar, with the help of their main investor, Axeed. In just 6 years, the company has onboarded more than 500 key global and regional clients across multiple industries. With this latest investment, Jeebly is well on track to accelerate its growth.
Raman Pathak, Chief Executive Officer and Co-Founder of Jeebly said: “We are excited to welcome Lyve Global as our growth partner. This is an alliance that is set to strengthen our proposition and create unique synergies that will benefit our customers. Together, we will be more resilient and prepared for future opportunities”.
Abdulla Al Shaibani, Chief Executive Officer, Axeed LLC also commented on the partnership: “Lyve Global and Jeebly joining hands is an excellent strategic development that benefits all parties involved. We at Axeed have always believed in Jeebly's potential and will continue to actively support this partnership."
With the rapid rise of e-commerce in the region, companies are focused on developing strategies that enhance online trade. Lyve’s solutions play a pivotal role in empowering such companies to thrive in the digital landscape, having successfully expanded its offerings to cover order generation and management, payments, and delivery across 20 markets. With this growth comes the desire to continuously refine and advance its services, backed by major regional investors and institutions.