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Setup in Saudi Journey: Retailo

In the news, Retailo received the largest seed funding ever for a Saudi startup. We spoke to Abdulaziz Hadhrawi, Retailo’s General Manager in Riyadh, to learn more about their journey into the Kingdom.

Would you like to tell us more about Retailo?

Retailo, the fastest growing B2B startup in MENAP, has digitized retail supply chains in the region. Our mission is to simplify the retail business and make complex supply chains easily accessible. We’re aiming to unlock the earning potential of over 10 million SME retailers in the region through our app and our business operations and lift the economy of the markets we work in

Tell us a little bit about your experience with the Saudi market?

Retailo is headquatred in Saudi Arabia and the country has been extremely kind to us. We have been growing rapidly and expanding our reach within the market. Currently we have a big market in Saudi and I believe we have set strong foundations for ourselves within the region. Saudi Arabia is a very successful base for the company and we look forward to playing our role in the realization of Vision 2030.

Could you expand a bit more on your latest round of funding?

After our pre-seed funding of $2.3 million in October 2020, we received $6.7 million seed funding within a few months bringing total investment to $9 million. A big part of our funding will go into hiring more top local talent, and further developing our tech infrastructure. We manage all technical aspects in-house, right from our logistics to our warehouse management system. Thus, increasing the efficiency of our infrastructure is our top priority.

With generous growth on the horizon for Retailo, are you looking to grow your teams?

Yes, most definitely. We’re on the recruitment route and we’re looking to expand all our teams. We’re on the hunt for great Saudi talent in different fields such as Finance & Accounting, Marketing, HR, and Customer Care to help us scale up.

What is the next goal for Retailo?

We’re looking to expand into new territories within the kingdom and GCC. The future focus is to expand and make an impact all around the region.

What advice would you give to a company that is looking to move into KSA?

Don’t miss the chance! The Saudi market is opening up and it has mountains of potential and opportunities. I say, “Move into Riyadh as soon as possible!”

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