Tenami Capital, a DIFC-based revenue-based investment firm, has closed its largest investment to date in Golden Scent, a Mena e-commerce platform for fragrance and beauty products.
The specific deal value remains undisclosed.
Tenami Capital’s investment signifies an important milestone for Golden Scent, which will utilise the capital to enhance product offering, expand its geographic footprint and advance operational efficiencies.
Managing partner at Tenami Capital, Zohaib Patel, said: “Over the past decade, Malik, Ronny and the Golden Scent team have built an impressive business with consistently strong growth and a loyal and growing customer base.
“We share the founders’ excitement for the future and are delighted to partner with them to accelerate Golden Scent’s growth trajectory. This latest announcement marks our second investment in recent months and demonstrates our strong deal pipeline of regional businesses with sizeable and growing revenues that are seeking non-dilutive, value add capital.”
Founded in September 2014 by Malik Al Shehab and Ronny Froehlich, Golden Scent has operations and warehouses in Saudi Arabia and UAE and deliverы to more than 80 countries worldwide.
Golden Scent stocks more than 20,000 fragrances from over 1000 brands.
Co-founder and CEO of Golden Scent, Malik Al Shehab, said: “Tenami Capital’s investment is a tremendous validation of our achievements so far and our potential going forward.
“We highly value the founder-friendly approach of Tenami Capital and look forward to working together to take Golden Scent to even greater heights, expanding our product range and reaching more customers across the region. We remain grateful to all our shareholders and partners for their hard work, support, and guidance in helping us develop into a truly regional champion.”
