Retailo raises $36mln in landmark Series A round

Retailo raises $36mln in landmark Series A round

Retailo, the fastest growing startup in Middle East, North Africa and Pakistan (Menap) which is digitising the region's retail supply chains, has raised $36 million in its Series A round which was a mix of equity and venture debt.

The Series A funding will help Retailo move into the next phase of expansion into new geographies, verticals and products.

Retailo is a regional B2B marketplace in Menap and has raised a total investment of $45 million in less than 1.5 years of operations, a landmark for any startup in the region.

Retailo's Series A round has attracted leading investors with proven track records of impactful investments. The round was led by Silicon Valley based Graphene Ventures which was an investor of tech giants Snapchat and Lyft.

For Retailo's Series A, Graphene is joined by leading investors that include 500 Global, Agility, Aujan, Tech Invest Com and Mentor's Fund, all of which have the relevant exposure and investments in the retail industry's technology companies. The venture debt was raised from Nahda Fund - one of the Middle East's first venture debt funds which is backed by IMM Investment Global, based in Hong Kong.

Additionally, Shorooq Partners, Abercross Holdings, Arzan VC, AgFunder also participated in the round