Saudi-based B2B marketplaces raise combined $37.2mln
- Date: 08-May-2021
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi-based B2B marketplaces raise combined $37.2mln
Sary raised $30.5 million in a Series B round led by VentureSouq and joined by new investors US-based Rocketship.vc and STV, Sary said in a press release. Existing shareholders Ra’ed Ventures, MSA Capital and Derayah also contributed to the funding round.
Riyadh-based Retailo raised $6.7 million in a seed round led by existing investor Shorooq Partners and UK private equity shop Abercross Holdings, Retailo said a separate press release. Retailo, founded by former Careem executives, has now raised $9 million after being in operation for just nine months.
Sary plans to use the funds to grow geographically and expands the services it offers including credit provision.