Dubai: Gulf Islamic Investments LLC (GII), a UAE based Islamic financial services com-pany, announced the successful closing of US $145 million fund raising for “Apttus”, a Silicon valley based company delivering Enterprise Class, Software-as-a-Service (Saas) Solutions to complete the Quote-to-Cash customer process and the Procure-to-Pay supplier process.
This is the fourth company out of Silicon Valley for which GII has raised funds for in the last 2 years, bringing the total amount raised to $350 million. GII further confirms a continuing partnership with Apttus to lend strong support to the company’s business development and market penetration in the GCC region.
“Technology sector and knowledge economy is the backbone of global economy in the next stage, many technology companies and informatics applications have shown tremendous ability to provide investment tools and exceptional returns over the past few years, we do not want to miss catching the train of this new accelerated sector, we believe that “Apttus” provides a golden opportunity at the level of business model and also in terms of achieving satisfying returns,” Mohammed Alhassan, GII Founding Partner, Director and Chief Executive Officer for GCC, said.
“Apttus is the poster child of the type of investment opportunities we like to have in our portfolio and offer to our esteemed client base. This is a major milestone and achievement for Gulf Islamic Investments as it is rare to find pre- IPO opportunities like “Apttus” in our region. We are excited with our partnership with Apttus and are looking forward for the IPO expected in early 2017,” Pankaj Gupta, GII Founding Partner and Chief Executive Officer for UAE, said.