Ygii raises pre-Seed round led by Flat6Labs
- Saudi Arabia-based social commerce platform Ygii has secured a pre-Seed round from Flat6labs, with participation from a group of angel investors.
- Founded in 2022 by Abdulkareem Aloumi and Ayman Alzamil, Ygii offers a mobile app that lets users build and share wishlists for any occasion with their friends and family, enabling them to digitally send and receive gifts.
- The startup operates across 50 countries and claims to have registered a monthly user increase rate of 34 per cent.
- Using the newly acquired funds, Ygii will be able to improve its product's technology and support its expansion.
Ygii, the social commerce platform that enables users to create and share wish lists with friends and family, is proud to announce the successful closure of a pre-seed investment round. The funding was led by Flat6Labs and participated in by a group of prominent angel investors.
Founded in 2022 by Abdulkareem Aloumi and Ayman Alzamil, Ygii has seen rapid growth, with a monthly user increase rate of 34% and a global user base spanning over 50 countries. The company is well positioned to continue its growth trajectory with this new investment, which will be used to further develop its technology and strengthen its revenue streams.
"We are thrilled to be at the forefront of the social commerce revolution," said Abdulkareem Aloumi, Co-Founder and CEO of Ygii. "As this sector continues to grow and mature, we believe Ygii will play a pivotal role in shaping its future." According to an Accenture study, the social commerce sector is expected to reach $1.2 trillion by 2025.
Ygii's innovative approach to gifting and its commitment to delivering a seamless user experience make it a standout player in a rapidly expanding market. With the support of Flat6Labs and experienced angel investors, Ygii is well set for a successful journey to drive significant growth in the social commerce sector.