Anghami, an Abu Dhabi, UAE-based provider of a music and entertainment streaming platform in the MENA region, received $5M investment from SRMG Ventures.
The company intends to use the funds to accelerate its growth by creating new experiences for users and opportunities for artists, and collaborating to expand the legal consumption of music and audio content in the MENA region.
Led by CEO Eddy Maroun, Anghami provides the tools for anyone to create, curate and share their voice with the world. Launched in 2012, the company currently has a catalog comprising more than 100 million songs and licensed content from Arabic labels, independent artists and global distributors, available for 120 million registered users. Anghami has established 40+ telco partnerships to facilitate subscriptions and customer acquisitions, in parallel to building long-term relationships with, and featuring music from, major music labels including Universal Music Group, Sony Music Entertainment, Warner Music Group and the Merlin Network.
Anghami has offices in Beirut, Dubai, Cairo, and Riyadh and operates in 16 countries across MENA. It has recently expanded into the US and Canada, with Europe in the pipeline.
SRMG Ventures is the venture capital arm of SRMG, an integrated media group in the Middle East and North Africa (MENA), committed to fostering the region’s media and entertainment ecosystem by identifying market opportunities, meeting consumer demand and creating new revenue streams.
FinSMEs
22/08/2023