Lebanese startup Brate announced yesterday that it raised $400,000 in seed funding from a New York based angel investor.
Cofounder Shadi Tabbara said the investor was a "big name" in the US and this was his first investment in a startup from the Arab region.
“We were looking for a strategic investor that can help us penetrate new markets in the future,” Tabbara said.
The startup, which is based out of Beirut Digital District (BDD) in Lebanon, helps users find products and services near them by adding locations to search results. Once users find what they’re looking for they can either connect with businesses online using call-to-action buttons such as ‘Shop now’, or choose to visit the nearest offline store selling those products using map directions.
“We will be using the funding to further expand in the region and grow our user-base,” said Tabbara.
Over the last year, Brate has seen triple digit growth of over 200 percent with one million users in 2015. Building on this momentum, Brate also plans to introduce all-new consumer platforms designed by a European firm, launch Brate for Businesses, across 15 markets, and invest in growing the team and creating strategic partnerships.