Retailo secures $15 million in funding to boost B2B digital distribution

42
Retailo secures $15 million in funding to boost B2B digital distribution

Saudi Arabia-based Retailo, a B2B digital distribution startup targeting micro-retailers and restaurants, has successfully raised $15 million in equity funding. The funding round saw participation from new investors such as Bahrain’s Yusuf Bin Kanoo Group and Dubai’s technology group Majd Digital, along with continued support from existing investors like Saudi’s Aujan Group Holdings, Shorooq Partners, Abercross Holdings, and Graphene Ventures.

The fresh capital injection will be instrumental in strengthening Retailo’s current operations, exploring new verticals, and expanding its footprint in Saudi Arabia. Earlier this year, the startup announced a technology distribution collaboration with Dtonic, a South Korean data solution company, enhancing scalability through Retailo’s AI-powered retail technology.

Founded in July 2020 by Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz, Retailo provides micro-retailers and restaurants access to a diverse range of over 5,000 Stock Keeping Units (SKUs) with next-day delivery. The platform also offers a plug-and-play solution for suppliers, enabling them to distribute products efficiently through Retailo’s extensive network of retailers and restaurants across Saudi Arabia.

Currently, Retailo boasts a network of thousands of retail partners and restaurants in Saudi Arabia, collaborating with over 200 local, regional, and global brands. The startup has fulfilled over 2 million orders to date.

The retail sector in Saudi Arabia, valued at $100 billion, comprises over 100,000 businesses serving a consumer population exceeding 35 million, according to Retailo.

LEAVE A REPLY

Please enter your comment!
Please enter your name here