Saudi’s Nana raises $50m

Saudi’s Nana raises $50m

Riyadh-based Nana, which fulfills online grocery orders from its dark stores and delivers within 15 minutes, has raised a total of $50 million in a round led by FIM Partners and STV which brings the total funding they received to $80 million.

The announcement was made as part of the leap event in Riyadh. This round has been dedicated towards the expansion of Nana’s dark store coverage throughout the Kingdom and the region with an aim to elevate the e-grocery industry and empower households to conveniently fulfill their grocery needs online thus accelerating the transformational goal from an offline to a purely online grocery shopping experience.

Nana had launched on a mission to provide households with a convenient solution to fulfill their grocery needs online. Through a network of micro fulfillment centres or dark stores fully stocked with up to 2,000 SKUs, NanaExpress ensures that all daily grocery needs are delivered straight to customers’ doorsteps within 15 mins.

“We exist to empower every household with a convenient solution that seeks to fulfill their daily, weekly, or monthly grocery needs and have been on this mission ever since we launched Nana back in 2016. Since then, we have sought every opportunity to expand our coverage, optimise our operations and enhance our user experience in the pursuit of this goal and that is why we’re excited to work closely with our investors who share this vision and have an unwavering commitment to elevating the online grocery shopping experience both locally and regionally. Our expansion has resulted in rapid double-digit growth week over week, and the current fundraise will sustain this growth for a considerable time,” Sami Alhelwah, Nana’s co-founder & CEO said.

NanaHyper’s wide selection of 40,000 SKUs provides households with a reliable solution to shop for their weekly and monthly groceries with the utmost convenience and superior quality of products and prices. Nana will mobilise the investment round proceeds to solidify and establish its operations and presence regionally with a target of 150+ dark stores by 2022, most are in Saudi to cover all the main cities within the Kingdom.

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