Floward has lift USD156 million in its Series C Pre - IPO investment unit of ammunition led by Aljazira Capital , Rainwater Partners , and STV .
The company intends to utilize the funds to further invest in expand its give verticals and swear more on artificial tidings and motorcar memorise to elevate its customer experience and encounter the demands of its ever - grow client base in the region .
Floward will also use the fund to roll out its fusion and acquisitions scheme , as it contrive to consolidate and invest in local brands that defend different category of its quarry gifting verticals . Notably , Floward has recently develop Mubkhar , the leading brand define authentic standards of perfumery in the GCC , in November 2022 .
Chairman and CEO of Floward , Mr. Abdulaziz B. Al Loughani , say : “ We are proud to announce the successful closing of our investment funds round extend by Aljazira Capital , Rainwater Partners , and STV . We would like to cover our gratitude for their trust in our squad , who has accomplish remarkable results and driven the ship’s company ’s valuation to grow by 3.8x since our last funding around a twelvemonth and a half ago amid the challenging global investing mood . Our commitment to the region has delivered 50 million flush stem in 2022 , create more than 1,000 lineal jobs , and partnered with +400 stain and local talent who have bring out some of the best firebrand on a global scale .
Furthermore , we are honour to have been choose for the Saudi Unicorns Program and are very unrestrained for the next chapter of our journeying . We would like to take this opportunity to thank our team member , customer , partners , and regional government for their firm backing and dedication to make Floward a leading player in the efflorescence and gifts industry globally . ”
Additionally , the Chairman & CEO of Rainwater Partners , Mr. Faisal AlRahbiny , and Chief Investment Officer of Aljazira Capital , Mr. Marco Mauri , will get together the add-in of directors of Floward , while General Partner of STV , Mr. Ahmad AlNaimi will continue being on the board .
CEO and Managing Director of Aljazira Capital , Mr. Naif Almesned , allege : “ We are felicitous to lead the Series C investment round and support Floward in their business ambition . We are confident in the team ’s ability to lead the company to a successful and prosperous future . The transaction check Aljazira Capital ’s allegiance to enable local and regional business ventures that make an shock on our society . ”
Floward has conjure up USD34.2 million through previous investment rounds , the late of which was USD27.5 million in its Series B investment rung led by STV and Impact46 in June 2021 .
For more information : Flowardwww.floward.com
