Fetchr confirms $15 million in fresh funding with plans to raise $10 million more

Fetchr confirms $15 million in fresh funding with plans to raise $10 million more

Dubai-based logistics startup Fetchr has confirmed that it raised $15 million as part of its Series C Funding round, the company said in a statement on Monday.

In July, Bloomberg first reported that Fetcher raised $15 million in funding as part of a turnaround plan to save the courier app from collapsing, saying that the funding round was still waiting for the approval of its shareholders.

According to the statement, the company said that is looking to raise another $10 million in funding before the end of the year following approval of the new funding at its Extraordinary General Meeting (EGM) on 20 August 2020. It also added that the company plans to rebrand by the end of this year.

Fetchr has previously raised commitments from BECO Capital, Dubai-based Tamer Group, CMA CGM