Tawaref Series: The five golden rules for entering Saudi market

Tawaref Series: The five golden rules for entering Saudi market

As an entrepreneur considering a landing in Saudi Arabia and the establishment of a company, a crucial decision awaits: whether to navigate the process independently or to engage the expertise of a corporate service provider (CSP).

As the saying goes, "a story is worth a thousand lectures," and this case study promises to impart invaluable insights.

Let's take a real-life example of what we see every day when it comes to landing startups while remaining completely truthful and objective. This real-life image serves as a helpful parallel, demonstrating the optimal profile and lifecycle found in very successful landings. 

Chapter 1: Bootstrapping

Meet John, a European national who, in 2020, bootstrapped his B2B SaaS product in a GCC country, obtaining the necessary work visa and securing angel investments to develop the minimum viable product (MVP).

Following this initial phase, incorporating feedback from ten successful paying customers, John improved his MVP through multiple iterative pivots. In 2022, John had 200+ satisfied paying clients, leading to the establishment of an offshore tech team consisting of ten full-time employees.

By late 2022, amidst a period of skyrocketing valuations, John had accomplished a significant milestone by successfully raising $4 million at a post-money valuation of $20 million. This funding was sourced