Saudi Arabia’s STV leads $27.5m Floward funding

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Dubai

Saudi Arabia’s STV has led a $27.5 million Series B funding round for Floward, the rapidly expanding online flowers and gifts delivery company.Impact 46 also participated in the funding round, the company said in a statement on Sunday.

Established in 2017 by founder and CEO Abdulaziz B. Al-Loughani, Floward offers prime fresh-cut flowers coupled with gifts and products from local and international brands with same day delivery.

“Since our launch four years ago, we have been on a clear and rapid growth path that was further accelerated by the COVID-19 pandemic as e-commerce penetration saw a huge surge during the past year,” said Al-Loughani.

“These circumstances presented to us clear opportunities and accelerated our growth plans in the MENA region and beyond, specifically into London, UK – our first expansion outside the region.”—AN

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