•Retailo, a leading B2B digital distribution company in Saudi Arabia, secures $15 million in funding to enhance operations, and solidify its presence in the kingdom.
•Strategic investors, including Bahrain’s Yusuf Bin Kanoo Group and Dubai-Based Technology Group, contribute to the funding, fostering valuable collaborations.
•The company’s mission is to digitize and transform the retail supply chain, addressing the substantial $100 billion retail industry in Saudi Arabia catering to over 100,000 businesses and 35 million consumers.
Th B2B digital distribution company in Saudi Arabia, Retailo, announced it raised $15 million from strategic investors to enhance its current operations, diversify into new verticals, and solidify its footprint within the kingdom, according to a company statement.
The unique approach of Retailo in B2B digital distribution is gaining momentum and attracting investments.
The funding includes contributions from strategic investors like Bahrain’s Yusuf Bin Kanoo Group, Dubai-Based Technology Group, Majd Digital, and existing partners such as Aujan Group Holdings, Shorooq Partners, Abercross Holdings, Graphene Ventures, among others.
This investment brings valuable collaborations, including a technology distribution partnership with Dtonic, a leading South Korean data solution company.
With the fresh capital, Retailo aims to expand its presence in Saudi Arabia, focusing on significantly growing its customer and supplier network. The expansion will leverage the digital distribution platform, a plug-and-play solution enabling suppliers to distribute products across the Kingdom, tapping into Retailo’s extensive network and distribution capabilities.
The retail industry in Saudi Arabia is a substantial $100 billion sector, encompassing over 100,000 businesses catering to a population of more than 35 million consumers.
Retailo’s mission is to digitize and revolutionize the retail supply chain while continuing its growth in KSA.
Currently, Retailo boasts a network comprising thousands of retail partners and restaurants in Saudi Arabia, with over 200 leading local, regional, and global brands partnering with the platform.
Over the past year, Retailo has witnessed significant interest in its plug-and-play distribution platform, particularly from global brands seeking seamless entry and distribution across the Kingdom.
Earlier this year, Retailo announced a technology distribution partnership with Dtonic during the Saudi-Korean Investment Forum, showcasing its commitment to efficiency and scalability through unique AI-powered retail technology.”
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