KSA's Retailo Secures $15 Million in Equity Funding
The round is aimed at expanding the Saudi startup footprint within the Kingdom
Retailo, the leading B2B digital distribution company in Saudi Arabia, has raised $15 million in a funding round aimed at bolstering its existing operations, diversifying into new verticals, and expanding its footprint within the Kingdom, according to a press release. [1]
The fresh funding comes from a consortium of strategic investors, including Bahrain's Yusuf Bin Kanoo Group, Dubai-Based Technology Group Majd Digital, and existing partners such as Saudi Conglomerate Aujan Group Holdings, Shorooq Partners, Abercross Holdings, Graphene Ventures, among others.
Retailo’s platform is a plug-and-play solution enabling suppliers to efficiently distribute products across the Kingdom, leveraging Retailo's extensive customer network and robust distribution capabilities.
Earlier this year, during the Saudi-Korean Investment Forum hosted by the Ministry of Investment, Retailo announced a technology distribution partnership with Dtonic, leveraging AI-powered retail technology to enhance efficiency and scalability for businesses.
Headquartered in Riyadh, Retailo was founded in July 2020 by Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz, who bring a wealth of expertise from their previous roles at companies such as Careem and McKinsey.
The company's digital distribution platform caters to micro-retailers and restaurants, offering access to over 5,000 stock-keeping units (SKUs) with next-day delivery and providing suppliers with a seamless distribution solution across Saudi Arabia.