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Title: Retailo, Saudi Arabia’s leading B2B digital distribution company, secures $15M in equity funding, eyes further expansion

Riyadh, Saudi Arabia, 27th Nov 2023 - Retailo, Saudi Arabia’s leading B2B digital distribution company, has raised $15M to further strengthen its existing operations, expand new verticals and deepen its presence within Saudi Arabia. Retailo’s unique take on B2B digital distribution in Saudi Arabia continues to grow and attract investors. The latest investment comes from a range of new strategic investors, including Bahrain’s Yusuf Bin Kanoo Group, Dubai-Based Technology Group, Majd Digital, as well as existing investment partners such as Saudi Conglomerate Aujan Group Holdings, Shorooq Partners, Abercross Holdings, Graphene Ventures, and others. New funding comes with significant strategic collaborations, including a technology distribution partnership with Dtonic, a South Korean leading data solution company. With the new available funds, Retailo plans to expand within KSA, with the goal of significantly enlarging its customer and supplier network. The expansion comes through the digital distribution platform, a plug-and-play solution for suppliers to distribute their products across the Kingdom, leverage Retailo’s huge network of customers and take advantage of its distribution muscle.Retail in the Kingdom of Saudi Arabia is a $100 billion 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 its growth in 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 its platform. In the past year alone, Retailo has seen great traction for its plug and play distribution platform from global brands looking to enter and distribute seamlessly...

This press release is issued by King Newswire