Saudi-based B2B marketplaces Sary, Retailo raise combined $37.2m
- Date: 10-May-2021
- Source: Salaam Gateway
- Sector:Retail
- Country:Saudi Arabia
Saudi-based B2B marketplaces Sary, Retailo raise combined $37.2m
Published 07 May,2021 via Arab News - Economy - Two competing Saudi business-to-business online marketplaces have announced fundraising, a further sign of the growing interest in the region’s start-ups.
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.
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