Diwanee closes a $3,250,000 investment round from MedSecurities Investments
Diwanee, one of the Arab world’s leading digital media company with one of the largest female audiences in the Middle East, closed a $3,250,000 capital increase with MedSecurities Investment, a subsidiary of BankMed.
This capital increase supports Diwanee’s efforts and aspiration to become the main gateway for business online with women in the Middle East. The investment will provide funding for audience development and new products improvement, specifically e-commerce and video content.
Khaled Zeidan, Executive General Manager of MedSecurities Investment, commented on the transaction stating that, “Diwanee has all the elements of a successful player in the digital media space, a solid business model, strong management, and a growing market segment. The capital injection is exactly what they needed to realize their potential.”
Herve Cuviliez, the CEO and Founding Partner of Diwanee, also commented “We are thankful for the support and trust of our group of investors The investment will allow us to further focus on building a large and connected community of women, providing the highest quality content and best shopping experience for our users ”
Diwanee offers women-centric websites in Arabic and creating original content of core interest to the Middle-Eastern woman. The main platforms of Diwanee are “3a2ilati.com” a portal focused on family, education, health and cooking, “Yasmina.com” a female lifestyle, beauty and fashion portal, and “Mooda.com” a fashion e-commerce portal promoting leading Arab fashion and accessories designers. Today, Diwanee attracts approximately 4.8 million users per month with most of its strategic audience located in the Gulf. The company’s offices are located in Beirut, Dubai and Belgrade.
Headquartered in Beirut, MedSecurities is a leading financial securities house that provides a suite of products and services covering local, regional, and global markets. It operates as an agent for its growing local and international customers offering them optimal investment solutions in response to changing market environments. Services provided by MedSecurities include brokerage, investment product development, debt and equity private placements, and asset management (third-party, white-labelled, internally-established, and private equity funds).