Anghami, a music streaming company in the MENA region,
recently announced a Series B investment round led by private equity firm
Samena Capital.
“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.”
