Saudi Arabia’s B2B digital distribution startup, Retailo, has successfully raised $15 million in equity funding, with participation from new investors such as Bahrain’s Yusuf Bin Kanoo Group and Dubai’s Majd Digital, along with continued support from existing investors like Saudi’s Aujan Group Holdings and Shorooq Partners. The funds will be utilized to strengthen current operations, explore new verticals, and expand Retailo’s footprint in Saudi Arabia.
Founded in July 2020 by Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz, Retailo focuses on serving micro-retailers and restaurants. The startup offers access to a diverse range of over 5000 Stock Keeping Units (SKUs) with next-day delivery for retailers. Additionally, it provides a plug-and-play solution for suppliers, enabling them to distribute products through Retailo’s extensive network.
Earlier this year, Retailo announced a collaboration with South Korean data solution company Dtonic to integrate AI-powered retail technology into its platform, aiming to enhance scalability for businesses.
Currently boasting a network of thousands of retail partners and restaurants in Saudi Arabia, Retailo collaborates with over 200 local, regional, and global brand partners. The startup has completed over 2 million orders to date.
The funding comes as Retailo eyes the substantial retail sector in Saudi Arabia, valued at $100 billion, serving over 100,000 businesses and catering to a consumer population exceeding 35 million.
The investment in Retailo adds to the recent funding flurry in the region, with Saudi fintech startup Tabby raising $200 million, Tamara securing $250 million in debt financing, Noon receiving $41 million in a Series B round, and UAE-based eco-friendly B2B solutions provider Wize securing $16 million in a pre-seed round.
