Naspers returned to reinvest in the Dubai-based online marketplace, which has now raised $425m in total and is reportedly worth more than $1bn.
United Arab Emirates-based online marketplace Souq.com closed a AED 1bn ($272m) round featuring media and e-commerce group Naspers today.
Naspers invested alongside Tiger Global Management, Standard Chartered Private Equity, the World Bank-run International Finance Corporation, Baillie Gifford and undisclosed “regional and tech-focused financial institutions”.
Bloomberg reported earlier this month that Souq was raising funding at a valuation of more than $1bn but the company has not confirmed that figure.
Souq operates what it maintains is the largest e-commerce marketplace in…
