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Wiz Holding Closes $2 Million Seed Round to Empower Local Businesses Across the MENA with “Wiz Shops”

Wiz Holding Closes $2 Million Seed Round to Empower Local Businesses Across the MENA with “Wiz Shops”
Mohammed Tayem, founder and CEO of Wiz Holding. Source: Wiz Holding

Emirati e-commerce enterprise Wiz Holding just closed a seed round from international investors from the USA, Canada and KSA who collectively invested $2 million in the idea of empowering local businesses across the MENA region with Wiz Shops.

“Wiz Shops is making e-commerce simple by giving high growth and volume merchants the scalability, reliability, and flexibility they need. Wiz Shops’ mission is to enable businesses to unlock their e-commerce, providing comprehensive managed services and solutions. By becoming their e-commerce consultant and strategic partners, we are guiding businesses towards success by creating and executing our merchants go-to-market strategy. We believe that our merchants should love their commerce platform, and we work hard each day to make that happen.”Mohammed Tayem, CEO and Founder, Wiz Holding

Wiz Shops is a tech e-commerce platform that aims to empower SMEs across the region by replicating their offline businesses online. After speaking with Wiz Holding’s CEO, we learn that their product Wiz Shops won’t only lead digital transformation but also empower SMEs and large entities with tools to scale, reach their target market and penetrate new markets.

According to a study conducted by Statista last August, 48% of Saudi Arabian respondents and 47% of Egyptian respondents used e-commerce to purchase products more frequently which they normally would have bought from a store since the outbreak of the coronavirus (COVID-19). Interestingly that precedes the UAE and Morocco whose respondents (29%) reported they’ve used online shopping less frequently.

With this in mind, the Dubai-based e-commerce company has a mission to support businesses in tapping into the untapped potential in the region and enhance opportunities for growth. “Wiz Shops is entering the market at extremely unprecedented times and will play a crucial role in the sustenance of small, medium and large businesses post the pandemic,” Tayem adds. 

Wiz Holding operates from its Dubai headquarters, but it also has offices in Egypt and KSA, the very countries that saw rise in e-commerce sales during the pandemic.

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