One of the leading VC firms in the MENA, the Middle East Venture Partners (MEVP), has announced its investment in Wego, the biggest online travel search engine in the region. This deal would cement the leadership position of MEVP in the business.
The news of the acquisition comes shortly after the Middle East Broadcasting Center (MBC) announced it had entered into a strategic partnership with Wego to facilitate its market growth in MENA. Headquartered in Singapore and Dubai, Wego has gained popularity quickly and turned into a recognizable travel brand. It now has over 10 million visitors per month. It also partners with more than 700 local and global airlines, hotels, and online travel agents.
Ross Veitch, Wego CEO & Co-Founder commented that the company had been looking for experienced investors with a broad network that would help them increase their market share. For the MEVP founder and CEO Walid Hanna, it was important that there was also a well-established media company on board to dominate the travel metasearch play in the region.