Opensooq.com introduces $24 million for its new funding - MENA startups, innovation, and tech news

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Opensooq.com introduces $24 million for its new funding
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Opensooq.com introduces $24 million for its new funding

Amman-based mobile-first classifieds marketplace OpenSooq has raised $24 million in an investment round led by Saudi Jordanian Investment Fund, it announced today.

OpenSooq.com was founded by Salah Sharef in 2008 while he was working as an IT contractor in the United States.

Opensooq claims to have become the leading mobile-based classifieds marketplace of the region, with over 65 million consumers and businesses using its web and mobile apps, across the region. Its website alone according to publicly available data receives over 20 million visitors every month. In a statement, it said that the value of items sold through the website on an annual basis is $30 billion.

The funds, he said, will be used to expand the team in Jordan by adding 400 people to it, add more services for users, cementing its leadership position in the market, and launching new markets.

Omar Alwir, CEO of Saudi Jordanian Investment Fund, said, “SJIF is delighted to lead this round of investment driven by its belief that investing in promising Jordanian technology companies that are on the cusp of transformational growth such as OpenSooq supports Jordan’s position as a core technology innovation and operational hub for local and regional technology companies.”

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