RIYADH, SAUDI ARABIA / ACCESSWIRE / November 27, 2023 / Retailo, Saudi Arabia's leading B2B digital distribution company, has raised $15M to further strengthen its existing operations, expand new verticals and deepen its presence within Saudi Arabia. Retailo's unique take on B2B digital distribution in Saudi Arabia continues to grow and attract investors. The latest investment comes from a range of new strategic investors, including Bahrain's Yusuf Bin Kanoo Group, Dubai-Based Technology Group, Majd Digital, as well as existing investment partners such as Saudi Conglomerate Aujan Group Holdings, Shorooq Partners, Abercross Holdings, Graphene Ventures, and others. New funding comes with significant strategic collaborations, including a technology distribution partnership with Dtonic, a South Korean leading data solution company.
With the new available funds, Retailo plans to expand within KSA, with the goal of significantly enlarging its customer and supplier network. The expansion comes through the digital distribution platform, a plug-and-play solution for suppliers to distribute their products across the Kingdom, leverage Retailo's huge network of customers and take advantage of its distribution muscle.
Retail in the Kingdom of Saudi Arabia is a $100 billion industry that consists of over 100,000+ businesses that serve a population of more than 35 million consumers. Retailo aims to digitize and transform the retail supply chain and continue its growth in KSA. Today, Retailo's network comprises thousands of retail partners and restaurants in KSA and has 200+ leading local, regional and global brand partners on its platform. In the past year alone, Retailo has seen great traction for its plug and play distribution platform from global brands looking to enter and distribute seamlessly across the Kingdom.
Earlier this year, as part of the Saudi-Korean Investment Forum hosted by the Ministry of Investment, Retailo announced its technology distribution partnership with Dtonic that enables businesses to achieve efficiency and scale using its unique AI-powered retail technology.
Talha Ansari, Retailo's Founder and CEO, on Retailo's journey: "Since Retailo's inception, our objective has been clear: to forge a seamless digital distribution network for every business. After three years of dedicated effort, we're witnessing the evolution towards an all-digital distribution landscape, making Retailo a key player in shaping the future of the Saudi Retail Economy contributing to the Kingdom's Vision 2030 initiatives.
Yousef Albabtain, Principal and Saudi Country Manager at Shorooq Partners, added: "We are very proud of Retailo's dynamic leadership, and agility to transform one of the largest traditional sectors in the Kingdom of Saudi Arabia. Retailo's advanced tech capabilities are a driving force behind their continued growth in the Kingdom, and their ability to become a partner of choice in the retail space. As the Company continues to build on its profitable growth track, we are excited to continue backing the leading tech-enabled B2B distribution company in Saudi and witnessing the new phase of growth within the Kingdom."
Retailo is a digital distribution platform for micro-retailers and restaurants that opens up access to 5000+ SKUs with next-day delivery and a plug-and-play solution for suppliers to distribute their products, leverage Retailo's huge network of retailers, restaurants, and its distribution muscle across Saudi Arabia. Headquartered in Riyadh, Retailo was founded by former Careem and Mckinsey experienced founders Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz in July 2020.
Retailo Strategy Division
Najib Shaikh, Director Strategy and Investments
Tel +971-50-7410219
najib@retailo.co
More Info
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Media Contact
Organization: Retailo Technologies
Contact Person: Najib Shaikh
Website: https://retailo.co/
Email: najib@retailo.co
City: Riyadh
Country: Saudi Arabia
SOURCE: Retailo Technologies
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