Amman-based Mecal, an e-commerce platform focused on men’s accessories has raised funding from Palestine-based Ibtikar Fund and Jordan-based Innovative Startups and SME’s Fund (ISSF).
The investment will fuel Mecal’s expansion to Saudi Arabia and other Gulf countries, and allow it to expand its product offering. “I have no doubt that Mecal can become a leading provider for one-of-a-kind gifts in the Mena region. We are excited for this funding round that will allow us to continue to grow and expand,” said Tojan Onallah, chief executive officer (CEO) at Mecal.
“ISSF is delighted to have closed its second direct investment with Mecal, a woman- owned and-led business. ISSF’s interest is based on the high added value derived from its unique product designs and focused marketing. Mecal’s design capability will enable it to compete in the local, regional and international market thus driving its ability to scale,” said Laith Al-Qasem, chief executive officer (CEO) at ISSF.
Mecal’s designs celebrate Arab culture by incorporating local tastes, and cultural imagery and sayings. Clients can also order customised products and corporate gifts.
“We initially invested in Mecal in 2017 and have since witnessed very positive signals from the market that prompt us to double down in this space. Tojan is a relentless entrepreneur, whose passion for design drives a very unique product offering that fills a demand for high-quality, unique men’s accessories, and we are excited to welcome ISSF to join us in this journey.” said Habib Hazzan, managing general partner at Ibtikar Fund.