INVESTMENT WATCH- Algebra Ventures joins USD 16 mn series ‘C’ funding for the UAE’s HolidayMe: Our friends at Algebra Ventures joined a USD 16 mn series ‘C’ funding round for Dubai-based HolidayMe, the firm said in a statement (pdf). Algebra invested alongside Gobi Partners, Accel Partners, and Global Ventures. Four-year-old HolidayMe is an online platform offering travel solutions and customized holidays targeting customers in the Middle East and North Africa. HolidayMe reported sharp growth in both transactions and gross merchandise value on its platform. “HolidayMe has developed a leadership position in the large and fast-growing Muslim travel online market. The team has the vision, domain experience and capabilities to become the global leader in that market,” said Algebra Ventures Managing Partner Tarek Assaad. “We are delighted to join our co-investors, who are global leaders in venture investing, in supporting HolidayMe to achieve that goal,” he added.

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