Middle East News 247

Dubai courier app Fetchr raises funds for Saudi Arabia expansion

Fetchr secured at least US$15 million in fresh funding to expand in Saudi Arabia as part of a turnaround plan that saved the Dubai-based courier app from collapse.

The latest financing round, which still needs shareholders’ approval, could see pledges increase to as much as US$25 million, according to documents seen by Bloomberg.

The commitments are being made by venture capital firm BECO Capital, Saudi Arabia’s Tamer Group and French shipping company CMA CGM SA, the documents show.

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