Souq.com, the Dubai-based ecommerce platform, on Monday said it has secured $75 million in an additional round of funding from existing investor Naspers Limited.
This round of funding brings the total amount raised by Souq.com to $150 million – the largest amount raised by any internet-based business in the region, the company said in a statement.
Souq.com said it has grown more than 10-fold in the past two years, registering 23 million visits per month on its website from 6.2 million registered users.
The online retail platform offers a wide selection of products in over 15 categories, from electronic gadgets to baby diapers in a combined retail and marketplace model.
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