Rocket Internet goes shopping: Namshi raises 13 million

The creator of Zappos, German Rocket Internet, has announced

that its Middle East online company, Namshi, a Dubai-based shoe and fashion e-commerce company, has raised 13 million dollars led by Summit Partners.

This is the second time Summit Partner invests in Namshi, after it injected 1 million dollars last January. According to 'TechCrunch', to date Namshi would have raised circa 34 million dollars, including the reported 20 million dollars invested by JP Morgan and Blakeney Management in September 2012.

Namshi launched in 2012 to sell over 550 brands of shoes and fashion in United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain. Brands catered range from Nike to Polo Ralph Lauren.

In a statement released by Rocket Internet on Tuesday, the business accelerator noted that this funding will be used to “sustain its accelerated growth target.”

“We see our partners’ growing support as an encouragement for us to continue serving our customers with world-class products and services,” said Hosam Arab, co-founder and Managing Director of Namshi, in a statement. “Our customers made the company what it is today. Therefore, they will be the ones to see the main benefits coming from this investment. We will further focus on providing a shopping experience like no other in the region.”