Saudi Jadwa acquires majority stake in Kuwait’s Dabdoob

• Saudi Arabia-based Jadwa Funding has acquired 70 per cent of Kuwaiti firm Dabdoob Holdings, marking Jadwa’s first regional VC funding by means of Jadwa E-Commerce Alternatives Fund.
• Based in December 2017 by Abdulaziz Al Dhubaib, Ahmad Al Shaya, Mohammed Alhajery and Sulaiman Al Anjeri, Dabdoob is a child-centric e-commerce retailer, that operates within the GCC area and presents toys, books, costumes and video games with a same-day supply service.
• Jadwa Funding, based in 2006 in Riyadh, is a monetary providers agency.
• Dabdoob, together with Jadwa, is planning to develop throughout the Mena area.

Press launch:

Saudi Arabia’s Jadwa Funding has acquired a majority stake of 70 per cent in Kuwait-based Dabdoob Holdings, proprietor of the biggest toy e-commerce software within the GCC.

This was Jadwa Funding’s first regional enterprise capital funding by means of Jadwa E-Commerce Alternatives Fund.

Based in December 2017 in Kuwait, Dabdoob has advanced right into a specialised e-commerce platform for toys and presents, specializing in youngsters aged 0-12 years outdated. After changing into the market chief in Kuwait, Dabdoob launched into a regional growth technique by rolling out their best-in-class providing in all GCC nations and plans to develop additional throughout the Center East and North Africa area.

Subsequent stage of development

Commenting on the funding, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Funding, stated: “Dabdoob’s administration has demonstrated an distinctive capability to capitalise on necessary trade developments for the reason that firm’s institution, and we look ahead to contributing to Dabdoob’s subsequent stage of development by means of this partnership.”

Saad Al-Saif, Head of Non-public Fairness at Jadwa Funding, added: “As personal fairness buyers, we scan rising developments and look to spend money on and empower robust groups. Dabdoob has a well-recognised model, robust product providing, distinctive wrapping, and same-day supply. Collectively, these comprise a formulation for achievement within the toys and presents area.”

Talking for Dabdoob, Mohammad Al-Hajeri, CEO, added: “Jadwa’s funding in Dabdoob constitutes an necessary milestone for the corporate and a launch pad in the direction of our subsequent development part. With Jadwa’s like-minded partnership and full-backing, we are actually eager to speed up the implementation of our strategic initiatives and growth plans throughout the broader Mena area.”