Mums are big business as Mini Exchange raises $3M

UAE startup Mini Exchange has closed a $3 million round with its original and new investors, according to Arabian Business.

The startup is an online marketplace for mothers and children, and comes after competitor Mumzworld closed a ‘multi-million dollar’ Series B round in February.

The startup, founded by British expat in Dubai Sarah Jones in 2014, will build an app in English and Arabic as well as expand into Kuwait and Qatar.

Mini Exchange raised $1 million from seed investors last year. She told Wamda at the time that she used convertible notes for that round as the process was quick – taking just four months to close the round.

She said the investors for that round were angels from Europe and the Middle East, and one small VC from Europe.

The company was not available for comment.

Feature image via Pexels.