Fadi Ghandour (founder of Aramex PJSC) plans on raising $500 million for an additional capital investment on e-commerce in the Middle East.
Early this week, Ghandour sold his stake in Aramex and will be closing Wamda Capital’s $70 million. This new investment is aimed at $250,000 to $5 million worth of investment and would pass through the growing stages. Fun raising will start next year with a target of $3 to $5 million and the business would expand to Turkey and Pakistan.
E-commerce is known to be a fast growing business and there are at least 200 million people within the region that are online. They are trying to build an economy by transactions.
Ghandour plans on spending more time to support his new ventures and tech start-ups. He believes in the future and aims at working to provide a positive change. He is also trying to make it easier for selling his holding that he got through a stake in Levant Logistics.