Retailo raises $36 million in Series A

Retailo raises $36 million in Series A

Saudi Arabia-based B2B marketplace Retailo has raised a $36 million mixed equity and debt Series A round. The equity funding was backed by Silicon Valley-based Graphene Ventures, 500 Global, Agility, Aujan, Tech Invest Com, and Mentor’s Fund.  The venture-debt funding was led by Nahda Fund. The round also saw participation from Shorooq Partners, Abercross Holdings, Arzan VC, and AgFunder.

Founded by Talha Ansari, Wahaj Ahmed, and Mohammad Nowkhaiz in July 2020, Retailo provides a one-stop shop for SMEs and retailers, enabling them to discover and procure products for their stores with the promise of having them delivered in 24 hours. The platform currently boasts over 5,000 SKUs. 

Beyond KSA, the startup also operates in UAE and Pakistan.

Press release

KSA-based and MENAP servicing B2B startup Retailo has successfully raised $36M in its latest funding round which was a mix of Equity and Venture Debt. With more than 80% of the round amount raised in Equity, the Series A round was led by Silicon Valley-based Graphene Ventures 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 fund which is backed by IMM Investment Global, based in Hong Kong. Additionally, Shorooq