UAE’s Lyve Acquires Majority Stake in Delivery Company Jeebly
Founded in 2016, Lyve enables businesses to digitize their customer journey from order to payment delivery.
Lyve Global, a software as a service (SaaS) platform founded in the UAE, has acquired a majority stake in Jeebly, a leading UAE-based last mile delivery and logistics company.
The acquisition is part of Lyve’s investment strategy of expanding its offerings and market reach. However, the financial details of the acquisition were not disclosed.
Founded in 2016, Lyve enables businesses to digitize their customer journey from order to payment delivery. It uses cloud-based platforms and services to facilitate orders on behalf of brands across several industries, including e-commerce, food and beverage, grocery, and healthcare.
“This is an exciting time for us,” Nader Museitif, Chief Investment Officer at Lyve, tells #StartupScene. “In less than 12 months we have concluded four acquisitions. We have ambitious plans for the coming two years with total investment value reaching over $150 million. Jeebly has been an exceptional success story and we’re happy to be working together on the next stage of the journey. This is one of several investments that will complement our offering and we will be actively looking to acquire companies that add to our spectrum of services.”
The pandemic has contributed to the growth of the e-commerce sector in the Middle East, and allowed companies such as Lyve and Jeebly to experience a surge in demand for their services. According to the EZDubai report, the e-commerce market in the region is expected to reach $49 billion in 2025, up from $31.7 billion last year. In particular, the UAE market is forecasted to increase 60% to more than $8 billion between 2021 and 2025, marking a huge opportunity for logistics and freight-forwarding services.
Established in 2016, Jeebly caters to more than 500 global and regional clients across several industries. By leveraging Lyve’s network, the acquisition will help it to accelerate growth in its existing markets while also strengthening its operational capabilities across the Gulf region.