Rocket Internet plans further MENA acquisitions & investments

Rocket Internet, the German start-up incubator, which already owns Delivery Hero, Talabat and Zomato UAE's delivery business, has announced plans to further invest around $1 billion into the Arab market.

Eyad Alkassar, chief executive of Rocket Internet in the Middle East who was also the co-founder of Namshi, did, "We are planning to invest much more in existing businesses, we are planning to launch new businesses soon.” He added, “We will continue to look for acquisition targets … where it makes sense to consolidate the industry and move ahead in it.”

With the recent high-profile exits of Careem, Namshi and Souq.com, the momentum of the startup ecosystem is gaining international attention. Plus, the high purchase power shows that GCC has the greatest potential for growth. Rocket Internet plans to take advantage of this trend and briefed its footprint across the MENA region.

Rocket Internet has Invested over $100 million over the past five years in startups across the region. Read more about is future plans here.