Saudi's B2B marketplace Retailo secures $15M to accelerate expansion
It also plans to expand within KSA to expand its customer and supplier network.
, a Saudi Arabia-based B2B digital distribution company, has raised $15 million from strategic investors such as Bahrain's Yusuf Bin Kanoo Group, Dubai-Based Technology Group, Majd Digital, and existing investment partners like Saudi Conglomerate Aujan Group Holdings, Shorooq Partners, Abercross Holdings, and Graphene Ventures.
Retailo plans to use the funds to enhance its operations, expand new verticals, and deepen its presence in Saudi Arabia, partnering with South Korean data solution company Dtonic for technology distribution, according to Wamda.
It also plans to expand within KSA to expand its customer and supplier network.
“Since Retailo’s inception, our objective has been clear: to forge a seamless digital distribution network for every business. We're witnessing the evolution towards an all-digital distribution landscape, making Retailo a key player in shaping the future of the Saudi Retail Economy contributing to the Kingdom’s Vision 2030 initiatives,” Talha Ansari, Retailo’s Founder and CEO, said on Retailo.
Retailo, founded in 2020 by Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz, offers next-day delivery services for retailers and restaurants, offering a catalogue of 5,000 stock-keeping units.
It has thousands of retail partners and restaurants in Saudi Arabia and over 200 leading local, regional, and global brand partners.
Retailo has partnered with Dtonic to enhance efficiency and scale in the retail industry, as announced during the Saudi-Korean Investment Forum, leveraging its AI-powered retail technology.
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Edited by Kanishk Singh
