B2B eCommerce marketplace Retailo Technologies has claimed to have raised $36 million in Series-A funding.
The round was led by Silicon Valley-based Graphene Ventures which was an early-stage investor of tech giants Snapchat and Lyft. Other investors in the Series-A round 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.
Retailo also raised venture debt from Middle-East’s Nahda Fund. Additionally, Shorooq Partners, Abercross Holdings, Arzan VC, AgFunder also participated in the round as repeat investors, which demonstrates their continuing belief in Retailo’s successful future.
The recent funding will bring Retailo’s total funding to $45 million. It has previously announced raising $2.3 million in pre-seed funding and $6.7 million in seed funding last year.
“On Retailo’s mobile platform, small businesses can find a catalogue of over
5,000 SKUs which are delivered to their doorstep in less than 24 hours,” Retailo said in a press statement. “They can also avail buy-now-pay-later (BNPL) services, which give them flexible payment options and credit lines.”
Headquartered in Riyadh, Retailo was founded by former Careem executives Talha
Ansari, Wahaj Ahmed and Mohammad Nowkhaiz in July 2020. The company claims that its growth has been quick, with Retailo scaling to over 10 cities in three countries: Saudi Arabia, United Arab Emirates, and Pakistan.
“Retailo...
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