Sarah Jones, CEO, Sprii (Credit: Sprii)
Sprii, an e-commerce platform marketing to mothers, has bagged fresh funding worth $8.5 million to continue its expansion in the MENA region.
Fresh funds come on the heels of Sprii’s entry to Saudi Arabia this year and will further support its expansion to Kuwait, Oman and Bahrain. It will also help the platform invest in new technology to improve its user experience while hiring new talent that would support its expansion.
The platform, which has to date raised $13 million in total funding, is planning to step up recruitment within fields of big data and analytics to further its growth. Sprii expects its sales to triple in 2019, compared to last year.
Sprii did not disclose who the investors were but said that there was support from previous investors while new investors had interests across retail, logistics and finance.
Unlike its rivals, the e-commerce platform works on an inventory-free model that it claims has been an attractive factor to investors while making it more agile to grow and expand. Sprii does not manage inventories directly but connects to partner inventory and provides customer support.
“Our scalable business model is made possible by our investment early-on in the right technological infrastructure, and this has proved crucial in helping us expand so quickly,” says Sarah Jones, founder of Sprii.
“We’ve been able to effectively enter each new market with relative ease, which has then enabled us to respond to customers’ needs in real time with local experts on the ground.”
Sprii is among a handful of startups in mother and baby vertical that has tapped into the lucrative sector in the Middle East. Last year, another e-commerce site Mumzworld said it raised $20 million to expand within Saudi Arabia – a country where e-commerce is growing at a rapid scale.