Salasa, a cloud-based turnkey solution for e-commerce businesses providing access to a professional logistics fulfillment network in Saudi Arabia, has announced today that the company has raised capital worth US$8.6 million in the Series A round. The round was led by AlSulaiman Group with the participation of Saudi Venture Capital Company (SVC) and 500 Startups. The new funds will help Salasa expand its services to additional states within Saudi Arabia and the Gulf countries, expand its team and grow its network of partners.
Commenting on the investment, Salasa Co-Founder and CEO Abdulmajeed Alyemni said: “We are excited to have partnered with leading investors in the region and look forward to their valuable advice and support in backing our growth. Our ongoing strategy is to maintain transparency, be flexible in our services and able to scale our business to the next level. We would like to replicate this in all the markets we establish.”
“Our clients receive the products they order online delivered at their doorstep by the click of a button. Since its launch, Salasa has been a game-changer in the Kingdom, helping brands to grow faster by eliminating their logistic pains and focus on customer fulfillment. To-date Salasa has shipped more than 10 million products and has served more than 300 local and international clients across more than 15 industries, of which we are proud.”
Abdulmajeed Alyemni and Hasan Alhazmi founded Salasa in 2016. Both are industrial engineers with a great track record in the supply chain field. The founders were influenced by the report published by the global management consultancy firm, Bain and Company, that the e-commerce market in MENA is expected to reach $28.5 billion by 2022. Despite its high growth potential, many e-commerce businesses were struggling to scale and satisfy customers, only because they lacked the expertise to operate their warehouses. This inspired the founders to come up with a technology company that streamlines e-commerce fulfilment. Thus, Salasa came into being.
Mr. Alhazmi, Co-founder and COO said: “We are poised for growth and we are aggressively investing in our proprietary technology to achieve superior operational excellence and utilize predictive analytics and insights to help our customers in making strategic decisions. The market outlook indicates significant growth in this sector, and we are confident, as experts in this field, we can meet client demands, faster, with better delivery experience, at affordable prices.”
Saud AlSulaiman, CEO of AlSulaiman Group, said, “We feel proud to lead this investment round in a startup that provides services with a business model that promises rapid growth and development, especially in these difficult times where the world is going through with COVID19 pandemic and the urgent need to rely on e-commerce and supply chain. Our previous investments in the logistics industry can give a boost to Salasa where they can collaborate and build synergies.”
AlSulaiman added that “we have full trust in Salasa team and its ability to move forward with the expansion and growth plan in the Kingdom and the whole region.”
Salasa provides solutions, tools, and resources to develop new products, enter new markets and dynamically grow client businesses. This has resulted in developing systems, processes and teams that deliver products and goods at low-cost order fulfillment solutions, high level of accuracy and speed of fulfillment. Besides, Salasa also receives, scans, and shelves e-commerce products in Salasa warehouse. The company uses high-quality, industry-specific shrink-wrap, bundling and gluing materials to keep stock. As growth partners, Salasa provides its loyal customers an accurate and professional order fulfillment as quickly as possible.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.