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Salasa, a technology fulfilment company in Saudi Arabia that handles orders for e-commerce companies, raised $8.6 million in a Series A funding round featuring Saudi Venture Capital Company and 500 Startups.
The fundraising into Salasa was led by Jeddah-based AlSulaiman Group, which already has investments in a number of sectors including retail, logistics, hospitality, financial services and e-commerce.
The investment will help the company to grow its network of partners and expand its services across Saudi Arabia and the wider Gulf region.
“We are excited to have partnered with leading investors in the region and look forward to their valuable advice and support in backing our growth,” Abdulmajeed Alyemni, Salasa’s co-founder and chief executive, said.
Salasa raises $8.6 million in Series A
Saudi Arabia-based e-commerce enablement startup Salasa, has raised $8.6 million (SAR 32 million) in a Series A round, led by AlSulaiman Group, with participation from Saudi Venture Capital Company (SVC) and 500 Startups.
The company plans to deploy the new capital to expand its services across Saudi Arabia and the Gulf, grow its team and grow its network of partners.
“We are excited to have partnered with leading investors in the region and look forward to their valuable advice and support in backing our growth. Our ongoing strategy is to maintain transparency, be flexible in our services and able to scale our business to the next level. We would like to replicate this in all the markets we establish,” said Abdulmajeed Alyemni, co-founder and CEO of Salasa.