Daily Markup

Daily Markup #888: Retailo bags US$15M to empower retailers and restaurants in Saudi Arabia with tools for greater efficiency at scale

December 6, 2023 · 2 min read
Photo credit: Yahoo! Finance

Going far & wide

  • Congratulations to Retailo for bagging US$15M from new strategic investors, including a technology distribution partnership with Dtonic, a leading data solution company in South Korea!
  • The 500-backed B2B digital distribution company aims to further strengthen their existing operations, expand into new verticals, and deepen its presence within the Kingdom of Saudi Arabia (KSA).
  • Today, Retailo’s network comprises thousands of retail partners and restaurants in KSA and has 200+ leading local, regional, and global brand partners on their platform.
  • The company’s plug-and-play solution enables suppliers to distribute their products, leverage Retailo’s huge network of customers, and take advantage of their distribution muscle.
  • With Dtonic, Retailo will also empower businesses to achieve efficiency and scale using their unique AI-powered retail technology.
  • This is a significant step for retail in KSA, a US$100B industry that consists of over 100,000+ businesses that serve a population of more than 35 million consumers. Retailo aims to digitize and transform the retail supply chain and continue their growth here.
  • Talha Ansari, Retailo’s Founder & CEO, shared, “Since Retailo’s inception, our objective has been clear: to forge a seamless digital distribution network for every business. After three years of dedicated effort, we’re witnessing the evolution towards an all-digital distribution landscape, making Retailo a key player in shaping the future of the Saudi Retail Economy contributing to the Kingdom’s Vision 2030 initiatives.”
  • Read the full story here.
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