KSA's Salla Raises $130 Million Pre-IPO Investment
Investcorp spearheaded the round in partnership with Sanabil Investment.
Investcorp, a global alternative investment firm, has taken the helm in a $130 million pre-initial public offering (IPO) funding round for Salla, Saudi Arabia's SaaS E-Commerce enablement platform.[1]
Teaming up with Sanabil Investment, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), Investcorp spearheaded this investment, with STV, an existing shareholder of Salla, also contributing to the substantial financing package.
Established in 2016 in Makkah, Salla has been equipping SMEs and business owners with a SaaS solution to realize their e-commerce aspirations.
It also serves as a gateway for merchants to access a $20 billion e-commerce market, poised for a 25% year-on-year (YoY) growth trajectory. With a track record of facilitating $7 billion in e-commerce transactions since 2020, Salla boasts a clientele exceeding 80,000 active merchants.
Nawaf Hariri and Salman Butt founded Salla, which has a staff of more than 160 developers. The platform offers merchants an automated ecosystem, streamlining processes from website creation to online sales, payment processing, and product delivery.
Investcorp's infusion of capital into Salla was executed through the Investcorp Saudi Pre-IPO Growth Fund LP, designed to target strategic equity growth investments primarily in the Saudi Arabian market. As part of the transaction, Robin Mansour, Principal at Investcorp, will join the Board of Directors at Salla.