Online B2B Floral Marketplace Floranow Closes its First Funding Round

Floranow, the region’s first online B2B floral marketplace, successfully raised its first round of financing after garnering the interest of Jabbar Internet Group, DASH Ventures, and Wamda Capital.

Fulfilling the floral industry’s need for new business models and efficiencies in the supply chain, Floranow was launched in 2016, connecting international growers to flower retailers, event planners, and hotels across the UAE. Since the flowers are cut to order, delivered in an uninterrupted cool-chain, treated and delivered in water to every doorstep, customers are receiving the freshest flowers with the longest vase life in the market at competitive prices.

Floranow has transformed a traditionally lengthy supply chain into a productive and effective system, creating a more direct link between the farmers and the retailers, thereby providing more varieties from farmers across the world than any other player on the market.

Floranow’s platform features thousands of floral varieties from select growers in the Netherlands, Kenya, and Thailand. Customers can make their selection online and see an all-in price which includes shipping, handling, custom duties, and last mile delivery. There are no surprises at Floranow, the products chosen arrive at the shown price – and customers receive their order in pristine quality through careful packaging, optimum temperature control and transportation in water.

Founder of Floranow, Charif Mzayek said “Our ultimate goal is to be unavoidable. The flower trade market in the GCC is $300M and growing. Whether you are a grower who wants a piece of the pie or a retailer who wants to get the widest assortment, superior quality and best prices, Floranow is where you’ll want to be.”

“The traditional floral supply chain is an archaic maze of middlemen and inefficient processes. Floranow’s model aims to directly link growers and buyers through a transparent, efficient and automated marketplace platform with an underlying mission based on three key pillars -access, quality, and timing. If there is anyone to drive this vision forward, it’s Charif, with his depth and breadth of industry knowledge and intuitive grasp of its complex intricacies.” said Omar J. Sati, Founder and Managing Director at DASH Ventures.

With this successful new business scheme up and running, Floranow is rapidly flourishing in the region and reaching a plethora of milestones, one that includes an imminent expansion to Kuwait, followed by a roll-out to the rest of  the GCC and Jordan. In addition, more growers are joining the platform in 2018 from Italy, Columbia, and Sri Lanka.