Feel22 raises Series A
Source: MENAbytes
Lebanese beauty ecommerce startup has raised a Series A funding round, the startup announced in a statement to MENAbytes last week, without disclosing the size of the investment. The investment round that was closed late last year came from Equitrust, investment arm of leading media conglomerate of the region Choueiri Group, and some other private investors.
According to its website, Feel22 offers free delivery and free returns for all its products on the website. The startup also claims to have 100 per cent certified and original products bought from official distributors of the brands. “We work either directly or in collaboration with the majority of the top distributors and brands in the country,” Feel22 notes on its website.
Darine Sabbagh, co-founder and CMO of Feel22, speaking to MENAbytes said that they will use the investment to further fortify their leadership position in Lebanon and expand to Iraq by launching there next month and Jordan in the third quarter.
“There is a lot of untapped potential in ecommerce in the Levant region. We are also enhancing our tech stack, mobile solutions and analytical dashboards and scaling up across all internal capacities including operations and logistics,” she noted.
The startup also plans to enter Syria as well in 2019.
Maurice Mattar, Co-founder and CEO of Feel22, said, “We are excited to replicate our success in new markets along-side like-minded investors. It’s just the right time. The beauty and personal care market is expected to keep growing over the next 5 years and according to our estimations, already accounts for over $1 billion in the Levant.”
