ⓘ Featured image: Mohammed Tayem, Founder & CEO of Wiz Holding
Wiz Holding, a MENA-based e-commerce enterprise, operational in the UAE, Egypt and Saudi Arabia, last week announced that the company has closed a seed funding round of $2 million from international investors from KSA, US, and Canada. The company will utilise the fresh capital to empower local businesses across the MENA region with its offering Wiz Shops.
Wiz Shops is a tech e-commerce platform that will empower SMEs across the region, transforming their offline business online. It aims to lead digital transformation and also empower SMEs and large entities with tools to scale, reach their target market, and penetrate new markets. They have a vision of creating more revenue streams and higher profit margins for customers. Wiz Shops will support businesses in tapping into the untapped potential in the region and enhance opportunities for growth. Wiz Shops is entering the market at extremely unprecedented times and will play a crucial role in the sustenance of small, medium, and large businesses post the pandemic.
Speaking of the development for Wiz Holding and Wiz Shops, Mohammed Tayem, Founder & CEO of Wiz Holding in a statement said,
“As we are getting ready to launch Wiz Holding to lead the digital transformation of the MENA region, we have analysed the market and saw a gap in the offerings. We wanted to create a one-stop solution for e-commerce needs with all the support required by businesses to achieve their goals. To do that, we have headhunted our CXOs to maximise the opportunity and lead the transition with some of the best minds in the business.”