Dubai – Mubasher: The managed funds platform of Shuaa Capital has invested in Anghami, a music streaming service in the Middle East and North Africa.

This investment is part of Anghami's latest funding round and sees Shuaa's contribution to the music streaming service's future growth, according to a press release on Tuesday.

In 2012, Anghami was launched in Beirut as the first music streaming platform in MENA and becomes the leading music platform with over 50 million songs and more than 70 million users.

The CEO of Shuaa Capital, Jassim Alseddiqi, said: "At SHUAA Capital, we continue to seek out investments with the potential to create significant value for our investors and for our investee companies such as Anghami."

The Co-founder of Anghami, Elie Habib, commented: "As Anghami continues to target rapid growth and penetration, combined with our dedicated focus on profitability, we are delighted to have secured the support of SHUAA Capital and its co-investors in this latest round."