Penny, Saudi-based procurement SaaS startup, launched Penny Souq, a B2B marketplace for the Saudi market. The startup has also partnered with Monshaat, SME Authority in Saudi Arabia, to enlist and support local merchants.
The markeplace will include hundreds of major manufacturers and suppliers who offer hundreds of thousands of different products.
Penny Souq is an electronic shopping platform for institutions and procurement professionals, it connects them directly with the different suppliers and shows their offers of products and prices, so that they can submit purchase orders through the platform immediately.
The startup was founded in 2020 with a mission to help businesses manage purchases and spending from ordering to payments, integrating all operations on a single platform.
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