STV’s NICE Fund I has invested in invygo, the leading car subscription platform in the Middle East, as part of its Series A extension, aimed at driving growth within the evolving automotive market in Saudi Arabia.
Target Information
STV’s NICE Fund I has made a strategic investment in invygo, the premier car subscription platform in the Middle East. This investment is part of invygo’s Series A extension round, which also included funding from existing investors like Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP, and C5.
Founded in 2019, invygo has disrupted the traditional car ownership model by providing flexible and accessible car subscription services. The company has achieved a remarkable revenue run-rate exceeding $100 million, driven predominantly by the success of its innovative
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Disclosed details
Revenue: $100M