The Iran Internet Group (IIG), the leading internet group in Iran with several million unique and paid transactions every month, just announced the closing of a funding round led by MTN Irancell, Iran’s second largest mobile operator.
The group ventures include market-leading car hailing platform Snapp, Bamilo.com, the country's leading online marketplace, and Zoodfood.com, the market-leading online food ordering platform.
The group has secured the funding in a move that will further accelerate its growth across the country. The funds will also enable the group to strengthen the market leadership of its existing businesses and to launch new businesses capitalizing on existing opportunities in Iran's internet space.
At the same time, MTN Irancell launched an online television application, named ‘Lenz’ for mobile devices. The service offers Iran’s national channels and includes seven-day catch-up functionality as well as a cloud-based DVR service and content in 1080p HD format.
Alireza Dezfouli, CEO of MTN Irancell
We have been watching IIG closely since its launch, and have been continually impressed with the strength of their team and the speed at which they have grown. In a very short time, their businesses like Snapp and Zoodfood have quickly managed to establish themselves as leaders in their field.
Herman Singh, MTN Group Chief Digital Officer
Over the past two years we have seen incredible growth at IIG, and this investment by our local partner is testament to the strength of the group's business model and management team.
