Retailo Technologies, a Riyadh-based B2B eCommerce platform, has raised $36 million in Series-A funding, bringing its total funding to $45 million.
“On Retailo’s mobile application, small businesses can browse a library of over 5,000 SKUs that are delivered to their door in less than 24 hours “In a news statement, Retailo stated. “They can also take advantage of buy-now-pay-later (BNPL) programs, which offer payment flexibility and credit lines. By providing timely supply, competitive rates, and easy credit, Retailo is able to address the needs of retailers and significantly improve their business.”
Retailo, based in Riyadh, was launched in July 2020 by former Careem executives Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz. Retailo has expanded to over ten cities across three countries: Saudi Arabia, the United Arab Emirates, and Pakistan, according to the company.
“Retailo is a scalable organization with hundreds of millions of dollars in annualized revenue and colleagues from a variety of nationalities and backgrounds who have left leading institutions such as Amazon, Delivery Hero, and Goldman Sachs to fulfill Retailo’s mission of building technology that empowers 10 million retailers in the region,” said Himag Vaidya, Retailo’s Head of Strategy.
According to Retailo, the Series-A funding would allow the company to move forward with its expansion into new areas, verticals, and products. “The usefulness of smart supply chains becomes even greater when global supply networks become increasingly pressured, pushing up commodity costs and lowering GDP development,” Retailo CEO Talha Ansari said.
Image Credit: Retailo