Wysada, the Amman, Jordan-based e-retailer for home goods and interior furnishings has raised 5 million in Series A funding led by the Badia Impact Fund, the venture capital arm of Silicon Badia that invests in technology companies throughout Jordan, the Middle East and the United States. Strategic investors from the Kingdom of Saudi Arabia and the Gulf Cooperation Council (GCC) have also joined the round.
The funding which is one of the largest for an early stage MENA startup according to the press release, is said to be used in expanding and strengthening the existing operations of the company in Jordan, the United Arab Emirates and Saudi Arabia and the delivery network run by additional local offices in London, Hong Kong and Istanbul.
Mohammed Musleh, the founder and CEO said, “Online home goods retailing is a proven and established model in the United States and Europe, and Wysada is pioneering this e-commerce sector in the Arab world. Growing by 30 percent annually in our geography, we are well positioned to dominate the market” said Musleh.