Floward raises $2.75 million
Kuwait-based flower and gift delivery service Floward has raised a $2.75 million investment round led by Saudi Arabia’s Impact46 with participation from Faith Capital, BNK and other regional companies.
Founded in 2017 by Faith Capital’s Abdulaziz al-Loughani, Floward offers its users fresh flowers and gifts online, a sector that has traditionally been dominated by the offline. The startup has been able to grow its current annualised revenue to more than $30 million. This latest round now pushes the startups total funding to $7 million.
“Three founders from different backgrounds and different countries came together and dominated the gifting and flowers business over the course of three years,” said Abdulaziz Alomran, founding partner of Impact46. “This is the Khaliji dream-team.”
Floward currently operates in Kuwait, Saudi Arabia, Qatar, Bahrain and the UAE and plans to launch in six more cities in the region before the end of the year.