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Naspers invests R812m in Dubai retailer

Dubai - Dubai-based Souq.com has secured $75 million (R812 million) in funding from South African e-commerce firm Naspers, the UAE online retailer said on Tuesday.

The latest investment by Naspers, which held a 36 percent stake in Souq.com as of November 2013, brings the total money the Dubai firm has raised to $150 million.

Souq.com will use the new funds to invest in its technology and mobile services, it said in an emailed statement.

The company says it is the Middle East and North Africa's largest e-commerce platform, with 6.2 million registered users and 23 million visits per month to its website. - Reuters

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