Tenami Capital, a DIFC-based revenue-based investment firm, announced the closing of its largest investment to date in Golden Scent, the market-leading e-commerce platform for fragrance and beauty products in the MENA region. The specific deal value remains undisclosed.
Led by co-founders Malik Al-Shehab and Ronny Froehlich, Golden Scent was founded in September 2014 as a pure fragrances e-commerce platform serving the GCC region. The company has since expanded to become the market leader in online fragrances in the MENA region, with operations and warehouses in Saudi Arabia and the UAE and delivering to more than 80 countries worldwide.
With over 2 million shoppers, millions of visitors monthly, and 7 million downloads since its launch, Golden Scent has powered its way to a leadership position in Saudi Arabia and the GCC’s e-commerce shopping space and it is now poised for breakaway growth for the coming three years.
The revenue-based investment in Golden Scent builds on Tenami Capital’s growing track record and expertise in supporting regional entrepreneurs and founders of digital businesses.
