Saudi Arabia-based Ygii raises a pre-seed investment round led by Flat6Labs

A social business platform based in Saudi Arabia In the yearYiIn the year It has closed a pre-seed investment round led by Flat6Labs with a group of angel investors.

It is mentioned in the report that the money will be used to further develop the technology and strengthen the sources of income Wamda. It is also used to support the expansion and encourage growth in the social business sector.

In the year Founded in 2022 by Abdulkarim Alomi and Ayman Alzamil, this platform allows users to share wish lists with friends and family through a mobile app. It thereby facilitates the sending and receiving of gifts digitally.

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Ygii, which operates in 50 countries, saw a 34 percent month-on-month increase.

In total, the size of the global social business market was valued at 727.63 billion dollars last year. In the year It is expected to expand at a compound annual growth rate (CAGR) of 31.6 percent between 2023 and 2030; Grand View Research.

In addition, as Research and marketsThe social commerce industry in the Middle East and Africa is expected to reach USD 9638.6 million by 2023.