Local performance marketing solution ArabyAds has just secured new funding from Choueiri Group’s investment arm, Equitrust. In exchange for an undisclosed stake in the company, Equitrust is investing 6.5 Million USD in ArabyAds for its first external funding round.
Patrick Thiriet, Chief Strategy Officer, Choueiri Group, commented on the investment: “We are excited to partner with ArabyAds, a company that was able –with no external funding so far- to quickly emerge as a market leader in MENA’s fast-growing performance marketing industry. There are many synergies to explore and implement, both with Equitrust’s other portfolio companies and with Choueiri Group’s unique advertising footprint in the region. We are looking forward to a fruitful collaboration, which shall ultimately benefit many consumer-facing industries, such as e-commerce, real estate, automotive and health & beauty.”
ArabyAds provide several solutions to the market, focusing on influencer, affiliate marketing and media buying.
Also well-known for their Arab Affiliate Summit, ArabyAds connects brands to affiliates. This solution is powered by one of the world’s most advanced tracking systems.
In an interview with Think Marketing in 2017, CEO and co-founder Mahmoud Fathy stated
“We have a lot of opportunity with Affiliate marketing here in the Middle East. There was no competition, no market, we created the market. So, we said to ourselves, how about we invest in the market? To educate the market. Most freelancers don’t know a lot about Affiliate Marketing, so we want to educate them. When it comes to advertisers, when it comes to affiliates, and connect all of them in one place.”
Fathy also recently commented on the new fundraiser and partnership with Equitrust. “We are looking forward to strengthen our brand, and to gain access to more regional clients that are looking to boost their sales through advertising. Although our organic growth has been rather stellar year on year, Arabyads had reached a stage where a capital injection was needed to expand further and continue delivering new solutions to regional advertisers. What we needed was the right partner, and Choueiri Group emerged quite naturally as a name of choice.”
During the 2018 Black Friday alone, Arabyads’ generated over USD 60M in sales for its clients, mostly in e-commerce, health & beauty and real estate.