ISSF invests $250,000 in Gamiphy e-commerce growth platform

AMMAN — The Innovative Startups and SMEs Fund (ISSF) — the largest investment fund of its kind in Jordan — has announced a direct investment of $250,000 in Gamiphy, an e-commerce growth platform that enables online businesses to launch various omni-channel experiences for their users.  

These include customer loyalty programmes, live commerce experiences, branded games, on-site recommendations and personalization, as well as other features to boost conversions and retention.

This investment is part of a $1.55 million investment round led by the Kuwait-based Al Muhallab VC, which also includes investments from the Bank of Palestine, Innovative Private Sector Development (IPSD), and angel investors, according to an ISSF statement.

“ISSF has chosen to invest in Gamiphy — a platform that has attracted partnerships from several global platforms — in appreciation of the importance of the technological solutions that contribute to the growth of the e-commerce sector that continues to thrive, especially after the COVID pandemic. Through this investment, we seek to bring this regional company to Jordan to support the market and empower Gamiphy to reach its full potential. This will ultimately contribute to positioning Jordan as a prime tech and entrepreneurial hub,” commented ISSF CEO Mohammad Al Muhtaseb.

In turn, CEO of Gamiphy Aws Al Nabulsi said: “ISSF's contribution to our funding round is strategic as it supports and consolidates our operations in Jordan, attracting and working with great local talent that reflects the natural growth of Gamiphy from a Palestinian startup to a regional and a global one.”

The ISSF is registered as a Jordanian private shareholding company. The objective of the ISSF is to support and elevate Jordan’s entrepreneurial and innovation landscape by facilitating the establishment of new investment funds that serve the ecosystem; making direct investments in innovative, export-oriented and scalable local startups; as well as implementing initiatives that improve the capabilities of Jordanian entrepreneurs and startup teams through training, capacity building and targeted incubation and acceleration programmes, according to the statement.