KUWAIT CITY, 2 OCTOBER 2018 — Faith Capital announces the close of a multi-tranche $1.5m seed round of financing in Snapbook, a Kuwaiti photo printing startup, in order to bolster its ongoing operations and impressive growth with the aid of the Faith Capital team’s expansive professional resources and regional expertise.
Having been founded in 2016, Snapbook has dominated the GCC photo printing market, becoming a notable regional leader in the market for photo books, photo prints, phone cases, gift items, home décor, apparel, and wall art. Snapbook’s base of operations is in Kuwait, while recognizing international sales in Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Oman, and over 40 other countries.
“Snapbook intends to attain pre-eminence in the field of photo printing, and we’ll work alongside Faith Capital to achieve a lasting global presence as a company with technology driving its core value proposition and operating efficiencies,” says Abdullah Boodai, the Founder and CEO of Snapbook.
“As the first institutional investor in Snapbook, we have long believed that the regional e-commerce sector is ripe for new entrants and product offerings, and we are proud to partner with Kuwaiti founders to pursue this unique market opportunity,” says Abdulaziz B. Al Loughani, the Managing Partner of Faith Capital. “We look forward to further developing our professional relationship in the years to come.”
“Faith Capital partners with founders who truly understand the value of technology in creating sustainable operations. Snapbook’s investment in building such technologies demonstrates their long-term commitment to mastering their platform’s scalability,” says Abdulaziz Hayat, an Associate at Faith Capital. “Together, we’ll expand the reach of MENA’s first truly scalable custom photo printing startup.”
Faith Capital Holding is a Kuwaiti Venture Capital firm specializing in early stage technology startups…