Abdulaziz B. Al Loughani is a prominent Kuwaiti entrepreneur and investor who has significantly influenced the e-commerce and startup ecosystem in the Middle East and North Africa (MENA) region. As the co-founder of Talabat and the CEO of Floward, his ventures have transformed online food delivery and gifting services across multiple countries.
Early Life and Education
Abdulaziz’s academic journey laid a strong foundation for his future endeavors. He earned a bachelor’s degree with a double major in Information Systems and E-Commerce from the University of Toledo. Furthering his education, he obtained an MBA from the prestigious London Business School, equipping him with the skills to navigate the complex world of business and technology.
Pioneering Online Food Delivery with Talabat
In 2004, Abdulaziz co-founded Talabat.com, an online food ordering platform in Kuwait. Under his leadership, Talabat revolutionized the food delivery industry in the region, offering users a convenient way to order from a variety of restaurants. The platform’s success caught the attention of global investors, leading to its acquisition by Rocket Internet in 2015 for $170 million.
Empowering Startups through Faith Capital
After his success with Talabat, Abdulaziz turned his attention to nurturing the next generation of entrepreneurs. In 2016, he founded Faith Capital, a venture capital firm focused on investing in early-stage startups in the GCC region. As Managing Partner, he has been instrumental in providing not just funding but also mentorship and strategic guidance to budding businesses.
Transforming Gifting with Floward
In 2017, Abdulaziz launched Floward, an online platform specializing in flowers and gifts. What started as a regional service quickly expanded to 32 cities across nine MENA countries and the UK. Floward’s unique approach of sourcing fresh-cut flowers directly from global growers and managing the entire delivery process set it apart in the market. By 2021, the company was valued at $152.5 million during its Series B investment round.
Recognitions and Awards
Abdulaziz’s innovative approach and leadership have earned him numerous accolades. In 2023, he was named one of the “Top Kuwaiti Entrepreneurs” by Forbes Middle East and Al-Qabas. Under his guidance, Floward received the Stevie Award for workplace innovation, highlighting the company’s commitment to excellence.
Contributions to the Entrepreneurial Ecosystem
Beyond his ventures, Abdulaziz has played a pivotal role in shaping the entrepreneurial landscape in Kuwait. As the founding Executive Vice Chairman of the Kuwait National Fund for SMEs Development, he oversaw a $7 billion initiative aimed at fostering small and medium-sized enterprises. His involvement in various boards across sectors like technology, banking, and healthcare further underscores his commitment to regional development.
Vision for the Future
Abdulaziz envisions a MENA region where innovation and entrepreneurship drive economic growth. He believes in moving away from traditional, government-dependent economies to ones that value merit and product excellence. His dedication to mentoring young entrepreneurs and investing in promising startups reflects his commitment to this vision.
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