Anghami, a Dubai, UAE-based music streaming company working in the MENA region, raised an undisclosed amount in a Series B funding round.
The round was led by private equity firm Samena Capital with participation from UAE-based telecommunications service provider du, which also entered into a commercial agreement with Anghami in the UAE to bundle the music streaming service with its products.
The company intends to use the funds for further user acquisition and regional expansion, to grow the company’s 20 million song library, which includes the largest catalogue of digital Arabic music globally, and to enhance its music video platform among other new features.
Founded by Lebanese entrepreneurs Eddy Maroun (CEO) and Elie Habib, Anghami has secured exclusive access to the music libraries and artist pre-releases of Arabic music labels such as Rotana, Platinum Records, Mazzika, Watary and leading aggregators, as well as major international music labels such as Universal, Sony, Warner.
Through its partnership with MBC, the company entered into a flagship marketing agreement which sperheaded its media presence in the MENA region, particularly through exclusive integration into TV formats such as Arab Idol, The Voice and The X-factor. In parallel, Anghami built a portfolio of bundling agreements with more than 15 telco companies across the Arab world.
It currently has a subscriber base of 30 million users, with a monthly active user base of 6 million users streaming at least 500 million songs.