Dubai: Dubai marketplace aggregator, with its quick delivery service YallaHub, has secured $6 million in a pre-series A funding round. As a B2B e-commerce startup, YallaHub enables brands to scale up across the GCC region and achieve global omnichannel sales with a “single-window service”.
The new round was co-led by MENA-focused private investors, entrepreneurs and syndicates. Notable investors include Fedor Ovchinnikov, founder of Dodo Brands; Regolith, ecosystem for financial and investment instruments, and others.
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The funds will be used to refine the IT platform for order aggregation and expand the network of partner marketplaces, with plans to accelerate the company’s expansion into Saudi Arabia and Qatar in the near future. These are both fast-growing markets with a flourishing fintech sector, economic stability, young and tech-savvy populations, impressive levels of internet penetration up to 99.0 per cent and a drive toward digitalization.
YallaHub has already introduced over 80 small, medium and enterprise brands to the UAE market, including the global health food brand Vkusvill. The marketplace aggregator provides its customers a single entry point to the GCC market and is equipped to handle omnichannel sales simultaneously, including 8+ aggregators and marketplaces (Noon, Careem, Amazon, Deliveroo, NowNow), e-commerce platforms and the merchant’s own sales channels powered by YallaWeb and Shopify.
“After conducting extensive tests with sellers, we confirmed that our new approach was effective,” said Leo Dovbenko, CEO and co-founder of YallaHubl. “Currently, we offer a premium delivery service through YallaMarket alongside our marketplace aggregator, YallaHub.”
“Our mission is to empower all entrepreneurs to grow quickly in the GCC e-commerce scene, covering the region with reliable and convenient less than 90-minute delivery.”
In 2023, the startup is expanding into Saudi Arabia and Qatar, attracting over 100 brands and reaching $10 million in annual recurring revenue (ARR). In 2024, YallaHub plans to enter three other GCC countries; Oman, Kuwait and Bahrain.