Wee Company announces the completion of a $10 million Series A pre-Series investment deal
WEE, the innovative marketplace renowned for its swift product delivery throughout the UAE, has reached a significant milestone: a $10 million infusion (comprising equity and credit facilities) from SIG Investment, affirming confidence in WEE’s vision and capabilities.
This latest investment has propelled WEE’s valuation to an impressive $40 million.
Setting itself apart in the bustling UAE online marketplace, WEE has earned accolades for its unparalleled delivery services, reminiscent of the acclaimed American Target Plus model.
With an exclusive network of trusted partners, WEE empowers consumers in Dubai with the convenience of ordering goods, promising delivery within the hour, and extending to next-day delivery for the rest of the emirates.
Under the adept leadership of Anastasia Kim, CEO and co-founder, alongside the visionary guidance of co-founders Oleg Dashkevich and Sergey Kolikov, WEE Marketplace is poised for even greater heights.
“The investment is poised to bolster WEE’s position in the e-commerce sector within the UAE, enabling us to enhance our logistics capabilities, accelerate widespread growth, and strengthen our team.
Our primary focus will revolve around advancing the fashion category with innovation in UAE-specific services like partial purchase and fittings, as well as highlighting live streaming. We will also introduce new services to the super app ecosystem,” said Anastasia Kim, CEO, and co-founder of WEE.
With the infusion of $10 million from SIG Investment, WEE successfully concluded a pre-Series A round of investments, further bolstered by an additional $2 million from existing shareholders. These investments underscore the immense potential of WEE, which, in just two years, has captivated audiences in the UAE and forged strategic alliances with local industry leaders.
Having previously secured $6.5 million for expansion in the UAE, WEE remains steadfast in its mission to attract further investments to scale operations within the UAE and extend its footprint into the GCC region.
Embracing a forward-thinking approach, WEE is poised to develop an expansive ecosystem around its super app, seamlessly integrating shopping, taxi services, payments, and more.
Furthermore, WEE is actively exploring the possibility of an IPO in the MENA region, signaling its commitment to long-term sustainability and growth.
“WEE has recently entered the UAE market but has already been able to win over the audience and offer a unique fast delivery service within selected time slots.
The company understands e-commerce trends and therefore knows what partners need now and how the customer experience will evolve,” added Sami M. Al Mohammad, Group CEO of SIG Investments.
With the UAE e-commerce market projected to surge to $20 billion by 2027, and express delivery accounting for a significant share, WEE is well-positioned to capitalize on this burgeoning market.
Leading categories such as cosmetics, pharmaceuticals, flowers, and food products are slated to drive substantial growth, further solidifying WEE’s pivotal role in shaping the future of e-commerce in the region.
