Dubai-based Fetchr has acquired YBA Kanoo’s courier service KRT in a move that will also create a new partnership between the two companies.
Fetchr has created proprietary technology which it says can “offer an intuitive solution to parcel pickup and drop-off in a region where address systems can be difficult to navigate”. It uses a patented technology to schedule pickup and delivery using mobile phone GPS coordinates.
In a statement issued today (20 March), YBA Kanoo Group CEO, Dr Patrick Chenel, said: “It is time to service KRT’s clients’ needs with a highly-digitalized offering. Fetchr is a very successful technology driven e-commerce facilitator that will provide our partnership with an enhanced service and exceptional experience.”
Fahad Fawzi Kanoo, added: “YBA Kanoo is a significant investor in the region and we are highly selective in deploying capital through our investments arm, Kanoo Capital. In partnering with an innovative solutions provider such as Fetchr, we are confident that the Company will bring value to the marketplace and a satisfying experience for individuals and businesses.”
Fetchr was co-founded by Idriss Al Rifai and Joy Ajlouny and is currently operational across the UAE, KSA, Bahrain and Egypt.
Source: YBA Kanoo and Fetchr
Tags: Middle East