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Souq.com has raised $3.3M across 1 funding round.
Key people at Souq.com.
Souq.com has raised $3.3M in total across 1 funding round.
Souq.com functioned as the premier e-commerce platform across the Arab world, providing a comprehensive online marketplace. It offered a diverse, fixed-price catalog spanning retail categories like electronics, fashion, and home goods. The platform delivered a structured, accessible digital shopping experience, establishing itself as a central regional commerce hub.
Ronaldo Mouchawar founded Souq.com on October 25, 2005, in Dubai, United Arab Emirates. Initially a consumer-to-consumer auction site under the Maktoob Group, the company strategically pivoted. Wisam Daoud, an eBay alumnus, joined as Chief Technology Officer, transforming it into a fixed-price, catalog-based e-commerce model.
The platform served a substantial customer base throughout the Middle East, notably in the UAE, Saudi Arabia, and Egypt. Souq.com’s vision was to broaden online shopping accessibility regionally, offering extensive product selection supported by localized logistics. It aimed to be the definitive digital retail destination, enhancing consumer choice.
Souq.com has raised $3.3M across 1 funding round. Most recently, it raised $3.3M Souq - Pre-Seed in June 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 7, 2022 | $3.3M Pre Seed | — | Chris Chang, Gautam Shah, Mike DEL Balso, Miko Matsumura, Aleph ONE, BBQ Capital, BlockØ, Ellipti, Evernew Capital, Himanshu Sahay & Partners, Infinity Ventures Crypto, Kickstart Seed Fund, Moon Holdings, Operate Studio, Perpetual Value Partners, Sterling.VC | Announced |
Key people at Souq.com.
Souq.com has raised $3.3M in total across 1 funding round.
Souq.com's investors include Chris Chang, Gautam Shah, Mike Del Balso, Miko Matsumura, Aleph One, BBQ Capital, BlockØ, Ellipti, Evernew Capital, Himanshu Sahay & Partners, Infinity Ventures Crypto, Kickstart Seed Fund.
