Souqalmal sucks up series B funding

Oct 6, 2017 • Sam McCaffrey

UK-based GoCompare has made its first strategic investment outside its home country, in a $14.5m round for Middle East price comparison platform Souqalmal.

United Arab Emirates-based price comparison platform Souqalmal.com has closed a $14.5m series B round featuring UK-based price comparison service GoCompare and currency transfer and exchange provider UAE Exchange, Arabnet has reported.

The round was led by Riyad Taqnia Fund, the joint venture established by Riyad Bank’s investment arm, Riyad Capital, in partnership with development and investment company Taqnia.

Founded in 2012, Souqalmal.com operates an online available in English and Arabic that lets consumers in Saudi Arabia, Kuwait and the UAE…

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