Fetchr, a Dubai, United Arab Emirates-based delivery-business and consumer technology app, raised $41m in Series B financing.
The round was led by New Enterprise Associates with participation from Majid Al Futtaim Holding, Nokia Growth Partners, Raed Ventures, Iliad Partners, BECO Capital, YBA Kanoo, Venture Souq and Swicorp.
The company intends to use the funds to continue expanding globally and developing its proprietary technology.
Founded in 2012 by Idriss Al Rifai, CEO and Founder and Joy Ajlouny, Co-Founder and Creative Director. Fetchr has developed a technology platform that uses customers’ mobile’s geo-location as a physical address to deliver packages straight to them, wherever they are.
In August 2016, the company launched its on-demand delivery service “NOW” that allows customers to receive door-to-door deliveries within an hour.
Fetchr is currently operational in UAE, Saudi Arabia, Egypt and Bahrain, with plans to expand its presence in MENA and beyond.