Saudi tech start-up Salasa raises $8.6m amid expansion push
30 December, 2020
Salasa, a technology fulfilment company found in Saudi Arabia that handles orders for e-commerce companies, raised $8.6 million in a string A funding round featuring Saudi CAPITAL RAISING Company and 500 Startups.
The fundraising into Salasa was led by Jeddah-based AlSulaiman Group, which already has investments in numerous sectors including retail, logistics, hospitality, financial services and e-commerce.
The investment will help the business to grow its network of partners and expand its services across Saudi Arabia and the wider Gulf region.
“We are thrilled to have partnered with leading investors in the region and look forward to their valuable assistance and support in backing our growth,” Abdulmajeed Alyemni, Salasa’s co-founder and leader, said.
Founded in 2016, Salasa offers a variety of services designed for e-commerce businesses which includes order fulfilment companies and storage of products in its warehouse. In addition, it offers resources to help smaller e-commerce businesses to develop new products and enter new market segments.
Salasa has shipped a lot more than 10 million products today on behalf of a lot more than 300 native and international consumers across 15 industries.
"We experience proud to business lead this investment circular in a start-up that delivers offerings with a business design that promises rapid development and development … specifically in these difficult times where the world is certainly going through Covid-19,” Saud AlSulaiman, chief executive of AlSulaiman Group, explained.
“We have full rely upon [the] Salasa staff and its own ability to progress with the expansion and growth plan in the kingdom and the whole region," he added.
The e-commerce market in the centre East and North Africa region is booming due to the popularity of smartphones and high rates of internet penetration.
E-commerce sales are collection to triple to $28.5 billion in 2022, from $8.3bn found in 2017, according to research from Bain & Enterprise and Google.
"The marketplace outlook indicates significant growth in this sector, and we are confident, as authorities in this field, we can meet client demands faster, with better delivery experience, at affordable rates,” Hasan Alhazmi, co-founder and chief operating officer of Salasa, said.
“We will be poised for expansion and we happen to be aggressively investing in our proprietary technology … to attain top-notch operational excellence and utilise predictive analytics and insights to help our customers in making strategic decisions,” he added.
Source: www.thenationalnews.com
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