WEE, a marketplace specializes in fast delivery services within Dubai, has announced a $10 million infusion (comprising equity and credit facilities) from SIG INVESTMENT.

WEE said in a statement on Friday that This latest investment propels its’s valuation to an impressive $40 million.

With the infusion of $10 million from SIG INVESTMENT, WEE successfully concluded a pre-A round of investments, further fortified by an additional $2 million from existing shareholders.

These investments underscore the immense potential of WEE, which, in just two years, has captivated audiences in the UAE and forged strategic alliances with local industry leaders.

Having previously secured $6.5 million for expansion in the UAE, WEE said it remains steadfast in its mission to attract further investments to scale operations within the UAE and extend its footprint into the Gulf Cooperation Council (GCC) region.

Embracing a forward-thinking approach, WEE said the firm is poised to develop an expansive ecosystem around its super app, seamlessly integrating shopping, taxi services, payments, and more.

Furthermore, the firm is actively exploring the possibility of an initial public offering (IPO) in the Middle East and North Africa (MENA) region, signaling its commitment to long-term sustainability and growth.

“The investment is set to enhance WEE’s standing in the eCommerce sector within the UAE, enabling us to upgrade our logistics capabilities, expedite widespread growth, and fortify our team,” said Anastasia Kim, Chief Executive Officer and Co-founder of WEE.

“Our primary focus will revolve around advancing the fashion category with innovation in the UAE service of partial purchase and fitting as well as highlighting live streamings,

“We will also introduce new services to the super app ecosystem,” she added.

With the UAE eCommerce market projected to surge to $20 billion by 2027, and express delivery accounting for a significant share, WEE said the firm is well-positioned to capitalize on this burgeoning market.

Leading categories such as cosmetics, pharmaceuticals, flowers, and food products are slated to drive substantial growth, further solidifying its pivotal role in shaping the future of eCommerce in the region, said the firm.

“WEE has entered the UAE market recently but has already been able to win over the audience and offer a unique fast delivery service in the selected time slots,

“The company understands e-commerce trends and therefore knows what partners need now and how the customer experience will evolve,” said Sami M. Al Mohammad, Group Chief Executive Officer of SIG INVESTMENTS.

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