Gift

YOUGotAGift raises $3 million from Tenami Capital

Startups 03 May 2023 318 Views

Tenami Capital, a recently launched revenue-based investment platform, announced the ending of its inaugural $3 million investment in YOUGotAGift, the top digital gift card marketplace in the Middle East. YOUGotAGift, a UAE-based corporate e-gifting outlet, founded in 2012, has raised $3 million from the recently launched investment platform Tenami Capital.

Tenami Capital is based on an experienced Gulf-based investments experts team on the grounds of a leading-edge concept: to give provincial entrepreneurs with revenue-linked development capital, full strength, and to solve the problem of existing the venture capital industry. 

Tenami Capital’s cornerstone investors include the business’s Gulf-based family offices, managing partners, regional high-net-worth individuals, and entrepreneurs from the VC ecosystem.

Zohaib Patel, Managing Partner of Tenami Capital said, “We are delighted to announce our investment partnership with YOUGotAGift, a regional champion that ticked all the right boxes: sizeable and growing revenues, strong unit economics, a fully-funded business plan and a track record of efficient capital use. We are excited to introduce our equitable revenue-based investment structure to the Middle East and look forward to supporting more high-quality entrepreneurs and businesses in our region.”

Tenami Capital’s idea can be seen implemented in the milestone investment of  YOUGotAGift is a true example of it. The transaction received by YOUGotAGift has planned to utilize for the development and fulfill the company’s exceptional requirements in the majority of the Middle East and the Kingdom of Saudia Arabia.

Husain Makiya, Co-Founder and CEO of YOUGotaGift, added “The Middle East is home to one of the youngest, fastest-growing, and digital-savvy populations in the world. Technology-enabled firms such as YOUGotAGift are at the forefront of the region’s transformation and we require innovative investors such as Tenami Capital to help fuel our growth. With a partnership-centric approach, the Tenami Capital team was flexible and supportive to structure a growth facility fitting our business needs.  While the revenue-based investment structure is a new and novel concept, I am confident this investment will play a pivotal role in helping YouGotAGift meet our long-term business objectives.”

During 2022, in the MENA areas, YOUGOTAGIFT was the most-funded nation, raising $1.19 billion all over the year In UAE. The most funded industries were E-commerce and FinTech not only in UAE but all over the province. Recently some of the gifting platforms that received funds include  Kuwait’s Teeela raising $3.75 million, and Kuwait’s Floward, raising $156 million.