Sprii operates the Middle Easts’s №1 online multi-million shopping platform with more than 90,000 authentic products from over 3,000 global brands offered through the online shop and an app in the UAE, Kuwait and Saudi Arabia, and expanding its operations to Bahrain, Qatar and Oman.
2be.lu VC fund offers opportunity to participate in the offering of digital assets (Digital Claim Receipts) backed by proceeds from investments of 2be.lu VC fund into convertible notes of Sprii. The notes will be converted into ordinary shares in the next funding round with a 20% price discount of the purchase price of the shares payable by investors in the next round scheduled for Q4 2020.
Key highlights:
- Growing e-commerce market in Middle East
The E-commerce industry in the Gulf Cooperation Council (GCC) countries is one of the most attractive growth opportunities in the world at the moment. The MENA e-commerce segment is slightly ahead of the average global growth rate and has a large room for growth.
- Exceptional performance since company inception in 2014
Headquartered in Dubai, Sprii.com now operates a multi-million dollar business with a team of 120+ working across the globe, and is the #1 online shopping platform of choice for the mum and baby community across the Middle East. With the largest selection of authentic products and brands in its chosen verticals, Sprii is the leading trusted platform for mums to shop all their needs across a variety of categories for themselves, their little ones and their homes.
- Attracted $14.1M investments in 3 previous rounds
Sprii’s competitive strength:
- Established brand/ distributor network – this is almost impossible to replicate in short order.
- Best in class technology including automation of all key processes and interactions with third parties.
- The team is made up of world-class talent – when attracting talent to the region is a challenge.
- Largest social media following in our vertical across all social media channels.
- Extensive network of partners regionally.
- Unique operational flexibility to respond to changes in supply and demand.
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