According to reports, Namshi, a Dubai-based e-commerce start-up that offers offers designer clothing to customers in the Gulf region, has received an investment of over $20m.
Backers include J.P. Morgan Asset Management and Blakeney Management.
The company intends to use the capital to expand operations, mainly in Saudi Arabia.
Launched in late 2011 by managing director Muhammed Mekki and other three partners, Namshi is an online destination for fashion and footwear offering products from over 400 international brands.
The company is currently hiring (http://www.namshi.com/about/career/).