FETCHR Business formation in Dubai
Business Dubai

FETCHR’S NEXT FUND-RAISING IN 2019 SET TO BE BIGGER

Dubai-based courier firm Fetchr will launch its Series C funding raising this year, which will be substantially bigger than its previous round, a senior company official said.

“We last raised our Series B in 2017 with a total of $41 million [Dh150.5 million] and our next round will be considerably bigger, and it will be this year. We have been focusing on whom we want to bring onboard and how that is going to help [the company],” said Tariq Sanad, chief finance officer of Fetchr.

The startup had raised funds through Majid Al Futtaim and other privately-owned entities in the previous series.

The other speakers who addressed the startup summit included Daniel Zywietz, founder and CEO of Enerwhere Sustainable Energy; Amit Sharma, co-founder and CEO at ShopX; Ashish Fafadia, partner at Blume Ventures; Musthafa P.C., CEO and co-founder of iD Fresh; and Amarinder Pal Singh, founder and CEO of Clove Dental Clinic. Anish Mehta, vice-chairman of ICAI – Dubai Chapter, was also at the event.

Mahmood Bangara, chairman of the ICAI – Dubai chapter, said startups have created new opportunities and momentum in the world of entrepreneurs.

“The wealthiest individuals or corporates in the world are not who own just tangible assets as before. Technology and intangibles are newly-defined wealth. Those who create ideas, inventions and helping the modern life style, will have immense opportunities to grow, where startups are becoming an integral part of,” said Bangara.

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