Retailo, a Riyadh, Saudi Arabia-based startup digitizing the region’s retail supply chains, raised $36m in Series A equity and venture debt funding.
The round was led by Graphene Ventures joined by 500 Global, Agility, Aujan, Tech Invest Com, Mentor’s Fund, Shorooq Partners, Abercross Holdings, Arzan VC, AgFunder. The venture debt was raised from Nahda Fund.
The company, which has raised a total investment of $45m in less than 1.5 years of operations, intends to use the funds for expansion into new geographies, verticals and products.
Founded by former Careem executives Talha Ansari, Wahaj Ahmed and Mohammad Nowkhaiz in July 2020, Retailo is a regional B2B marketplace in Middle East, North Africa, and Pakistan (MENAP). On its mobile platform, small businesses can find a wide catalogue of over 5,000 SKUs which are delivered in less than 24 hours. They can also avail Buy-now-pay-later (BNPL) services, which give them flexible payment options and credit lines.
To offer a one-stop shop solution, the company directly works with hundreds of local, regional and global brands. Retailo also optimizes end-to-end logistics in the supply chain via efficient warehousing operations and smart fleet management solutions. Leveraging its wide regional presence, the company bhas recently begun offering its sellers a cross-border distribution platform across the three biggest markets in the region: KSA, UAE and Pakistan. Retailo also provides data analytics services to sellers to help them evaluate sales performance and consumption trends.