Lyve Global, a software-as-a-service platform founded in the UAE, acquired a majority stake in the last-mile delivery and logistics company, Jeebly.
The acquisition is part of Lyve’s plans for the next two years, with more than $150 million in planned investments, the company said in a statement on Tuesday. It did not, however, disclose the financial details of its deal with Jeebly.
Founded in 2016, Lyve enables businesses to digitise their customer journey from orders to payments to end deliveries.
The company's acquisition of a majority stake in UAE-based Jeebly marks a “significant step as part of the its new investment strategy”, which is aimed at expanding its offerings and market reach.
“This is an exciting time for us … in less than 12 months, we have concluded four acquisitions,” Lyve’s chief investment officer Nader Museitif said.
“Jeebly has been an exceptional success story and we are happy to be working together on the next stage of the journey. This is one of several investments that will complement our offering and we will be actively looking to acquire companies that add to our spectrum of services.”
Lyve, which has operations in 20 countries, uses cloud-based platforms and services to enable “hundreds of millions of orders” every month on behalf of leading brands across the e-commerce, food and beverage, grocery and healthcare industries.
Its solutions empower businesses across several verticals to manage logistics operations, optimise fleet schedule and tracking, provide analytics and enhance customer acquisition channels. It offers its solutions to hundreds of clients and leading brands from the e-commerce, pharmaceutical, telecoms, grocery, and food and beverage industries.
Companies such as Jeebly and Lyve benefited strongly from a surge in demand for logistics and freight-forwarding services during the Covid-19 pandemic as e-commerce picked up.
With the rapid rise of e-commerce in the region, companies are focused on developing strategies that enhance online trade. Lyve’s solutions allow companies to thrive in the digital landscape by helping them with order generation and management, payments and delivery across 20 markets.
“We are excited to welcome Lyve Global as our growth partner. This is an alliance that is set to strengthen our proposition and create unique synergies that will benefit our customers. Together, we will be more resilient and prepared for future opportunities,” said Raman Pathak, chief executive and co-founder of Jeebly.
Established in 2016, Jeebly has onboarded more than 500 key global and regional clients across several industries.
By leveraging Lyve’s network, the acquisition will help it to accelerate growth in its existing markets while also strengthening its operational capabilities across the Gulf region.