Siin Secures $3 Million in Funding to Expand Live Shopping Marketplace in MENA

Funding Round Led by Prominent Investors

Siin, the rapidly expanding live shopping marketplace in the Middle East and North Africa (MENA), has announced a successful funding round that has raised a total of $3 million. The investment was spearheaded by VentureSouq and Shift Group, with contributions from Plus VC and notable regional investors including Suhail Al Gossaibi, Mussab Al Hakami, and Abdulla Al Hashmi.

The company, founded in 2024 by experienced marketplace operators Hesham AlSaati, Ahmed Allawi, and Khaled Albalooshi, is backed by influential regional programs such as Hub71, part of Abu Dhabi’s tech ecosystem, and InspireU, the accelerator initiative from Saudi Telecom Company (stc). This funding marks a significant milestone for Siin as it aims to solidify its position in the burgeoning live commerce sector.

Transforming E-commerce Through Live Shopping

Siin is redefining the shopping experience in a region where e-commerce is growing rapidly but real-time, interactive shopping has yet to fully take off. The platform allows users to buy and sell high-value items through live-streamed and gamified shopping experiences, tapping into the social and interactive nature of commerce in MENA.

Co-founder Ahmed Allawi emphasized the importance of social interaction in commerce, stating, “Commerce in MENA was never transactional; it’s social, interactive, and trust-driven.” He noted that Siin is reimagining traditional shopping experiences for a digital-first generation, effectively merging real-time engagement with a community-driven marketplace.

In less than a year, Siin has expanded its operations across several Gulf countries, including Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar, and Oman. The platform has facilitated the sale of hundreds of thousands of items and has logged tens of thousands of hours of live streaming, showcasing its ability to engage users and enhance marketplace liquidity.

Strategic Goals for Future Growth

The newly acquired capital will be utilized to accelerate Siin’s regional expansion and strengthen its seller ecosystem. Khaled Albalooshi, another co-founder, stated that the platform is built in-house and is already delivering performance on par with global leaders while being tailored for the MENA market.

VentureSouq’s General Partner, Suneel Gokhale, noted Siin’s potential to localize a global trend, highlighting the team’s capability to integrate cultural nuances into their platform. This localization is seen as a key factor in Siin’s strategy to create a new category of commerce within the Gulf Cooperation Council (GCC) region.

Hasan Haider, Founder and Managing Partner of Plus VC, echoed this sentiment, stating that Siin is not just building a product but is also shaping a new behavioral layer for commerce in the region. The combination of culturally ingrained trading dynamics with advanced live and AI capabilities positions Siin as a pioneer in the evolving social commerce landscape.

Frequently Asked Questions

What is Siin?

Siin is a live shopping marketplace in MENA that enables users to buy and sell high-value goods through livestreamed experiences.

How much funding has Siin raised?

Siin has raised a total of $3 million in its latest funding round.

Who are the investors in Siin?

The funding round was led by VentureSouq and Shift Group, with participation from Plus VC and other regional investors.

What are Siin’s plans for the future?

Siin plans to use the new capital to expand its market presence and strengthen its seller ecosystem across the MENA region.

When was Siin founded?

Siin was founded in 2024 by Hesham AlSaati, Ahmed Allawi, and Khaled Albalooshi.