MENA music streaming service successfully receives Series B investments
“We are delighted to have Samena and du onboard and are confident of the value they bring to our expansion,” Eddy Maroun, co-founder and CEO of Anghami, said. “We're proud to see the company transition from a startup into a regional market leader. We have an ambitious vision for Anghami beyond the streaming application; as a platform with cutting-edge technology, Anghami is empowered to build a strong ecosystem in the region connecting fans, artists, telcos and brands around music.”
This investment round completion marks the third successful round of fundraising for Anghami. The company was first seeded by Middle East Venture Partners (MEVP) before successfully completing Series A fundraising in 2014. That round included co-investments from MBC Group and Mobily Ventures.
“Samena Capital invests in companies that have the potential to become regional champions,” Wassim Moukahhal, senior vice president at Samena Capital, said. “In Anghami, we found all the right ingredients: a talented management team who are experts and innovators in their fields; a sophisticated, high-tech product; and a proven business model that earned the company its undisputed leading position in the Middle East.”