Penny is a unique procurement platform which helps you digitise and manage your procurement cycle from end-to-end solutions.

Basic Information

Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs, RFP, and RFIs to vendors, compare quotations, send POs, and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system. See more

Legal Name

:

Penny Software

Headquarters

:

Riyadh, Ar Riyad, Saudi Arabia

Business Model

:

B2C, 

B2B, 

B2B2C, 

B2G 

Founding Date

:

2020

No. of Employees

:

41 to 60

Core Team

:
1.

Iyad Aldalooj

Co-Founder & CEO

2.

Majid Aldalooj

Co-Founder & CFO/COO

Timeline
2020
true
Sep | Raised Funding
Penny Software Raises $1.35 Million in Seed Funding Round.
2021
Aug | Strategic Partnership
Penny Software signs partnership to launch Mastercard Track™ Business Payment Service in Saudi Arabia and the MENA region.

Target Market

B2B

Procurement Solved. Save Money.

Client Segment

:

BioTech/BioPharmaceutical, E-Commerce, FoodTech

Target Companies

:

Startup, Small Enterprise, Medium Enterprise, Large Enterprise

Funding

Total Funding

$6.4M

Investors

:

1.

Class 5 Global

2.

Wamda

3.

Outliers Venture Capital