On August 11, 2015, IM Capital finalized the Matching Capital investment terms with Scoop City, an online destination for local Ecommerce. Launched in May 2012, Scoop City is today one of the country’s top online destinations for Ecommerce, offering subscribers access to local deals at top venues and merchants. Scoop City provides merchants with the ability to target a new range of customers and market their products and services via a measurable and effective online marketing channel. The founders, Abdallah and Ghaith Yafi, are both seasoned entrepreneurs and angel investors, and will use the proceeds to:

• Revamp the website and launch new mobile application
• Develop Online marketing & advertising and promotional events
• Lay the ground for a KSA expansion

 “We are very happy to have IM Capital as partners in this venture”, said Abdallah Yafi. “This investment will help us introduce an attractive pivot that will enhance the company’s value proposition for a subsequent round of financing”, he added. We will make this investment worthwhile for IM Capital and our investors.” The expected impact of job creation is around 20 in the three coming years.