x Abu Dhabi, UAEWednesday 26 July 2017

Mumzworld.com plans to offer equity stakes to female investors

The baby goods and toy market in the Middle East and North Africa is valued at about US$8 billion, according to the Mumzworld founder, as the company expects growth in e-commerce.

Mona Ataya, the founder of Mumzworld, an online store with mother and child care products. Silvia Razgova / The National
Mona Ataya, the founder of Mumzworld, an online store with mother and child care products. Silvia Razgova / The National

Mumzworld.com, the online shopping site geared towards mothers in the Middle East, is offering female investors the opportunity to acquire an equity stake in the company to benefit from the expected growth in e-commerce.

"Our business is one that mothers understand and want, and we're a business that understands and wants to support mothers," said the Mumzworld.com founder and chief executive, Mona Ataya.

"With this women-only financing round, Mumzworld.com is empowering women to invest in a business they believe in, to reap the benefits from that business' growth and potentially to become more financially independent."

Since Mumzworld's inception in 2011, Ms Ataya has taken it through two rounds of venture capital funding to expand the business. The site now offers 90,000 products - 15,000 of which are exclusive to Mumzworld.

She expects sales to triple in the next year.

The baby goods and toy market in the Middle East and North Africa is valued at about US$8 billion, according to Ms Ataya, citing figures from the research firm Euromonitor. Many mothers in the region wield considerably more spending power than their counterparts in Europe.

Ms Ataya did not say how large a stake she was making available to the female investors nor how many women would be selected as stakeholders.

She said more details would be revealed, along with how the women might offer their input into how the company functions, after the investors were selected.

Ms Ataya's track record in founding and running companies could help attract interest from investors.

She co-founded Bayt.com, an online recruitment portal, before starting her current venture after the birth of her third child.

Women interested in investing should email mumzformumz@mumzworld.com for more information before September 20.

 

lgutcher@thenational.ae