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Nejree closes $15 million Series A for its try now buy later platform

Nejree closes $15 million Series A for its try now buy later platform Saudi Arabia-based e-commerce platform Nejree has raised $15 million in a Series A round led by the Impact46 growth fund. Founded in 2018 by Ibrahim Almogren, Nejree adopts the try now buy later (TNBL) model, which closes a critical gap in the virtual showroom experience. Using big data and AI technology, the e-commerce startup aims to deliver the best user experience at scale. The new investment will allow Nejree to scale its operations, grow its “Nejree Closet” into more categories and brand offerings, and access new markets. Press release: Nejree, the Saudi-based online fashion & lifestyle destination has successfully closed a $15 million Series A round led by Impact46 growth fund. 

Dubai firm boosts Saudi healthcare portfolio with second deal

Dubai: Dubai s Foundation Holdings Co. bought a stake in a Saudi Arabia-based primary health chain, marking its second investment in the kingdom s fast-growing market for medical care, and said it plans to list the firm in the next two years. The healthcare and education investment firm acquired 51% of Shifa Al Munthaza Polyclinic, Chief Executive Officer Abhishek Sharma said in an interview. Foundation Holdings plans to invest about 250 million riyals ($67 million) in Saudi Arabia s primary healthcare sector, he said, almost half of which was spent on the Shifa deal. The kingdom s primary healthcare market is expected to grow to 50 billion riyals in 2025 from 28.6 billion currently. Healthcare in Saudi Arabia is one the fastest growing markets in the region, Sharma said. We invest in local champions to make them bigger and stronger, and then we take them public and make them more sustainable.

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