Retailo allows community stores to buy day-to-day inventory through a mobile app and have it delivered within 24 hours. Since it was established, it has attracted total funding of $45 million from investors, including Graphene Ventures, 500 Global, Agility Venture Partners, Aujan Group, Tech Invest Com, Mentor’s Fund, IMM Investment Global, Shorooq Partners, Abercross Holdings, Arzan VC, and AgFunder, alongside individual investors. Having initially launched simultaneously in Saudi Arabia and Pakistan, today more than 50,000 retailers have used the platform across 12 cities in Saudi Arabia, Pakistan, and the U.A.E.
The cofounders now plan to use their latest capital injection to accelerate Retailo’s entry into the buy-now-pay later (BNPL) space and further expand into existing markets. “SME retailers have not progressed because of inaccessibility to the main-stream financial system. By providing easy access we want to add more value to their business,” stresses Ansari.
This story is from the March 2022 edition of Forbes Middle East - English.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2022 edition of Forbes Middle East - English.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Reasons To Seek Adventure
Whether it’s the exhilaration of free-falling out of the sky or the thrill of being immersed among the shark-filled reefs of the Indian Ocean, adventure enthusiasts are drawn by the allure of life-changing experiences. Here are some reasons why.
THE MIDDLE EAST'S 30 MOST VALUABLE BANKS 2024
MENA’s banking sector has shown resilience over the last year, supported by higher interest rates and oil prices.
INVESTING AT YOUR FINGERTIPS
Ahmad Hammouda and Seif Amr, Cofounders of Egypt-based digital investment platform Thndr, are facing competition from brokerages and investment banks to democratize investing. Having seen exponential growth in four years, they’re now looking at expanding to the U.A.E. and Saudi Arabia.
THE MIDDLE EAST'S FINTECH 50
Despite a sharp decline in funding in 2023, the Middle East’s fintechs have embraced new technologies and expansion and remained resilient in the face of challenges such as high interest rates and geopolitical uncertainties.
A Destination Beyond Expectations
Madrid, Spain’s vibrant capital, pulsates with energy and visitors are invited to unwind a rich tapestry woven with history, art, gastronomy, and natural beauty.
LEANING IN
Hisham Al-Falih, Ashu Gupta, Aditya Sarkar, and Mehdi Tazi, Cofounders of Saudi-based Lean Technologies, have created one of the region's leading third-party regulated open banking platforms with $37 million in funding. Now, they're planning another funding round and expansion across key markets.
A Blueprint For Sustained Growth In The World Of EPC
NMDC Group demonstrates how strategic foresight, robust financial growth, and a commitment to sustainability and innovation are fueling its ongoing expansion and diversification in the EPC industry.
A Red Sea Escape That Has It All
From family fun to fine dining and comfortable workspaces, there is something for everyone at the stunning Zouni Beach in El Gouna, Egypt.
TRADITION TO INNOVATION
Ahmed Wadi, Founder and CEO of Money Fellows, Egypt’s biggest ROSCA platform, has been addressing the cash-centric country’s financial challenges by digitizing traditional money circles. Now, he has even bigger plans.
Seventy-Five Years Of Fashion Influence
Gedeon Group has long been at the forefront of fashion retail in the Middle East and Africa, and with the third generation now at the helm, the business is continuing its legacy into the future.