MarkaVIP, a Jordan-based online private sales club, completed its $5m Series A funding.
The round was led by Lumia Capital, with participation from New York City-based Invus Financial Advisors (IFA).
The company intends to use the funding to expand its current operations and marketing activities, and support regional increase throughout the Gulf Cooperation Council (GCC).
Founded in 2010 by CEO Ahmed Alkhatib, MarkaVIP by CEO Ahmed Alkhatib and CTO Amer Abulaila, MarkaVIP sources premium brands and lifestyle products including men’s and women’s apparel, accessories, shoes, garments, bags, sunglasses, belts, watches, hats and lingerie, to be offered to its members at discounted prices for a limited period of time. MarkaVIP also sells home, kitchen and bathroom accessories as well as electronics.
It is currently available in the GCC, Jordan and Lebanon and employs 120 people across six offices in Beirut, Dubai, Amman, Istanbul, Antwerp and San Francisco. .
FinSMEs
06/12/2011