- Saudi digital marketing platform, Foz raised around $533,000 in a seed round completed in late 2024.
- The new funding will help the company expand its presence in Saudi Arabia and enhance its technology and user experience.
Saudi’s Foz, a digital marketing platform, has raised SAR 2 million (around $533,000) in a pre-seed funding round. The platform provides innovative coupon solutions and will be able to expand its services in KSA and across the region.
The future focus will be developing the application’s prototype and enhancing user engagement, according to founder and CEO Abdullah Al-Shalah. The team plans to use the funding to strengthen partnerships with local and international organizations and enhance innovative offerings.
Foz provides businesses with cost-effective tools like digital coupons with discounts of over 50%. It also features a daily auction system that helps attract customers, increase sales, and enhance visibility. These solutions allow businesses to achieve their strategic goals without high marketing expenses.
Saudi Arabia’s e-commerce sector is one of the fastest-growing markets in the region. It is expected to reach a value of 10 billion Saudi riyals soon. In 2022, the market grew by 65%, making the Kingdom one of the largest markets in the Middle East. The number of users shopping online in KSA reached around 28.4 million and is expected to increase by 2025.
The kingdom has witnessed remarkable development in electronic payments. This trend reflects a major shift towards digital payments, which contributes to facilitating and expanding the scope of e-commerce in the Kingdom.
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