Floward acquires Mubkhar; Saudi startup snags $1 mn

 Floward acquires Mubkhar; Saudi startup snags $1 mn

Floward and Mubkhar executives signing the deal

Online flower and gift delivery platform Floward has acquired Kuwaiti perfumery brand Mubkhar.

Founded in Kuwait in 2015, Mubkhar offers a selection of oriental and western fragrances as well as essential oils. The brand has a presence in Qatar, Saudi Arabia and Bahrain in addition to its home market.

Floward said the investment will help Mubkhar expand its product suite and amplify reach through its points of sale. The management will continue running Mubkhar on a day-to-day basis.

Floward was founded by AbdulaIaziz Loughani in 2017. It offers a marketplace for fresh cut flowers and other products sourced from local and international suppliers with a same-day delivery option. It operates in 36 cities across the Middle East and North Africa region as well as in the UK.

Floward also said the acquisition fits its strategy in maintaining and strengthening its goal of being the dominant online quick commerce gifting platform in the MENA region, and in the UK.

Order pre-seed funding

Saudi Arabia-based software-as-a-service startup Order has raised $1 million in a pre-seed funding round from several angel investors it didn’t name.

Founded in 2020 by Faisal AlAnazi and Essam Mohamed, Order provides technical solutions to restaurants and cafe owners to handle their day-to-day operations in Saudi Arabia and Egypt.

Order said the round will help it increase its market share and enhance its services. The startup is based out of Riyadh and has recently set up its Egypt headquarters in Cairo.

Aman Malik

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