Saudi Arabia-based social commerce platform Ygii, announce the successful closure of a pre-seed investment round. The funding was led by Flat6Labs and participated in by a group of prominent angel investors.
“We are thrilled to be at the forefront of the social commerce revolution,” said Abdulkareem Aloumi, Co-Founder and CEO of Ygii. “As this sector continues to grow and mature, we believe Ygii will play a pivotal role in shaping its future.” According to an Accenture study, the social commerce sector is expected to reach $1.2 trillion by 2025.
Founded in 2022 by Abdulkareem Aloumi and Ayman Alzamil, Ygii has seen rapid growth, with a monthly user increase rate of 34% and a global user base spanning over 50 countries. The company is well positioned to continue its growth trajectory with this new investment, which will be used to further develop its technology and strengthen its revenue streams.
Ygii’s innovative approach to gifting and its commitment to delivering a seamless user experience make it a standout player in a rapidly expanding market. With the support of Flat6Labs and experienced angel investors, Ygii is well set for a successful journey to drive significant growth in the social commerce sector.
