Retailo Saudi Arabia secures a funding of 56 million Saudi Riyals to bolster its position as a leader in the B2B e-commerce market
The Saudi Arabian e-commerce market for businesses stands out for its dynamic movement and rapid growth. Among the prominent companies in this field is “Retailo” in Saudi Arabia, which recently unveiled its success in securing funding of SAR 56.26 million (USD 15 million). This new funding aims to support the company’s plans to enhance its operations within the Kingdom and expand its network of customers and partners.
The continuous and evolving expansion comes through a digital distribution platform focused on efficiently executing operations. This significant step reflects Retailo’s commitment to developing a digital system that provides solutions for suppliers to distribute their products across the Kingdom.
Among the new investors participating in this funding round are Yousif Bin Kanoo Group from Bahrain and Majid Digital Group from the UAE, along with entities that previously participated in the company’s rounds such as Shorooq Partners, Al Ojain Holding Group, Graphene Ventures, among others.
Retailo offers more than 5,000 products for retailers, bolstering the digital presence of numerous suppliers and aiding in enhancing shopping experiences by offering flexible payment options and delivery speeds of up to 24 hours from order placement.
The company collaborates closely with over 200 leading local and regional companies, in addition to global brand partners, embodying its dedication to building a broad network of partners and customers.
Talha Ansari, the founder and CEO of Retailo, affirmed that the primary goal since the company’s inception has been to build an efficient and seamless digital system for product distribution and business support. After three years of continuous work, the team is witnessing significant progress towards achieving this objective.
Yousef Al-Babtain, Director and Saudi Regional Manager of Shorooq Partners, praised Retailo’s progress, confirming that the company’s advanced technological capabilities are a key reason behind its success and continuous expansion in the Saudi market.
With these new steps and additional funding, Retailo solidifies its position as a key player in the future of digital retail economy in Saudi Arabia, demonstrating its steadfast commitment to developing and offering innovative technological solutions to support businesses and enhance digital shopping experiences.
