STV Team leads a Series C funding round of 585 million SAR (156 million USD) in Flaowed, the largest e-commerce platform for gifts and flowers in the Gulf region, aimed at supporting its growth and IPO preparations.

Information on the Target

Flaowed is recognized as the largest e-commerce platform for gifts and flowers in the Gulf region, specializing in providing a unique gifting experience to its customers. Founded with the understanding of the significant role gifting plays in local culture, Flaowed has grown exponentially since our initial investment in 2021. The platform has seen a remarkable increase in business, expanding nearly seven-fold and becoming the region's largest importer of flowers. In 2022 alone, Flaowed facilitated the delivery of over 50 million roses, underlining its dominant position in a $3 billion market.

Moreover, Flaowed offers a diverse range of products in various gifting categories through partnerships with over 400 brands across nine countries, making it the preferred gifting destination for customers. The company’s recent acquisition of 'Mabkhar', a distinguished local fragrance brand, exemplifies Flaowed's commitment to horizontal expansion in the broader $10 billion gifting market.

Industry Overview

The gifting industry in the Gulf region is characterized by its cultural significance, where the act of giving is deeply embedded in social customs. Celebratory occasions, holidays, and personal milestones drive a substantial portion of gift transactions across this market. E-c