Pomegranate has been able to establish a unique position as one of the first international investors in Iran’s consumer internet space and is committed to the transfer of know-how and management experience in all the investments.

Our investments include:


Digikala Group is the first, largest and leading e-commerce company in Iran which is active in various categories of Retail, Marketplace, Fashion, Digital content, and Online Supermarket. It is now the second most visited website in Iran after Google, According to Alexa web ranking.  Digikala now offers more than 1.7 mn SKUs on its sites with over 30,000  sellers on its Marketplace, up from 60 thousand total SKUs three years ago before the launch of Market place. The marketplace strategy transformed the company into world class state of the art online retailer

Digikala’s growth strategy is inspired by the likes of Amazon and Alibaba in China, adjusted to an Iranian context. Marketplace expansion continues and it now represents about 67% of NMV. Category expansion into FMCG and food delivery products has also been successful.

Digikala Group’s GMV has been growing significantly in recent years. The compound annual growth rate (CAGR) for Digikala’s

net sales has been +100% over the last decade. During the past year, the company’s strategy was to scale up the size of its marketplace and develop infrastructures underlying Digifresh expansion. With the successful implementation of this strategy, Digikala was able to increase the number of items sold by 65% and delivered more than 20 thousand daily average orders to customers in 1397.

Cafe Bazaar

Café Bazaar is a leading consumer internet company in Iran that runs the largest local Android application marketplace for Persian speaking individuals around the globe.

40 million Iranian users have installed Café Bazaar’s application on their phones. Of this figure, more than 0.5 million users live outside Iran. Moreover, in 1397, more than 1.6 billion applications were downloaded and updated from Café Bazaar. Café Bazaar is monetizing its appstore and the company maintains its market share at about 85-90% percent, and CAGR GMV growth in the period 1394 to 1397 was 94%.

Also, users have access to a great variety of video content such as movies and TV series on Bazaar website. Currently, some well-known video content providers such as Filimo, Namava, and Digitoon are active on Bazaar.

Café Bazaar Group also owns 100 percent of Iran’s largest online classifieds company, Divar. With more than 17 million active installations, Divar has been the most downloaded app from Café Bazaar. It has an active presence in 60 cities of Iran.



Alibaba Travel Group

Alibaba Group is a leading online travel group in Iran holding the largest market share and the highest Alexa ranking among Iranian online travel agencies, with a leading position in online domestic travel.  Online travel is a large and high-potential market in Iran where Alibaba has built a strong position with a high level of brand awareness. Alibaba continuously strives to use the latest technology to offer the best customer experience in its sector.

Alibaba Group, among other, manages the following brands and services:
Alibaba: An online travel agency that offers flight, train, bus tickets, and tours.

Jabama: A hotel booking website for local and international hotel reservations.
Hello Persia: Provides services to tourists visiting Iran


Sheypoor offers a general classifieds platform, with a focus on certain key classifieds verticals. Monetisation through selling value added services have started with encouraging results and revenue in first half of Iranian year 1398 represents a 700% growth over same period in 1397, which was the first year of monetisation, and the growth rate is on average 79% quarter-on-quarter. For the broad population the services remain free of charge, a particularly important feature in these tough economic times, and the re-use of goods also makes perfect eco sense. Liquidity on the platform is always important but Sheypoor is now especially focusing on quality of listings and users etc while being cost conscience and smart about marketing and campaigns.

Sheypoor is developing its product and managing its operations on the basis of the vast and deep experience from successful international peers that sit in the network of Pomegranate and its shareholders.

Griffon Capital

Griffon is an Iran-focused financial group providing Asset Management (Capital Markets & Private Equity) as well as Investment Banking Advisory. Griffon’s platform consists of a high calibre team with deep local market expertise and international financial pedigree blended at the board, management and execution levels. Griffon is also distinguished by unmatched local research and primary thinking and a governance culture defined by global best practices in risk management, compliance and reporting.

Griffon has been the largest cross border M&A adviser in terms of number and value of mandates.

Griffon has recently sucessfully strengthened its local asset management offering, catering to the avalaible pools of money in Iran, which are less susceptible to international headlines.


Bahamta offers a simpler and safer alternative to traditional card-to-card or account-to-account P2P transfers through user friendly mobile based solution.

The company has five products live, targeted at different segments of the market. The initial four are all taking a small fixed fee per transaction. The company also recently launched a payment solutions for enterprises which is monetised through a percentage fee of the total transaction.


Navaar is Iran’s leading Spoken-Word Entertainment production and distribution platform. Navaar provides audiobooks, summary of the audiobooks, audio-dramas and audio-series. Their web and mobile apps offer audio content (for both adults and kids) in an easy-to-navigate catalog, the biggest of its kind in Iran.  Navaar’s has recently also launched podcast streaming service with included advertisements.

Navaar has been growing steadily and as per October 2019 the number of available titles was more than 5,000 compared with about 900 at the time of first investment in 2017. The Company now has more than 1 million  thousand registered users compared with about 350 thousand at the time of first investment.