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KSA s Sary Raises $30 5 Million Series B Round from VentureSouq

KSA s Sary Raises $30 5 Million Series B Round from VentureSouq
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Saudi-based B2B marketplaces raise combined $37 2mln

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Saudi arabiaAr riyaUnited kingdomFadi ghandourSuneel gokhaleAbercross holdingsVenturesouq coBloomberg televisionSyndigate media incRaed venturesShorooq partnersSouq co founderGeneral partner suneel gokhaleMiddle eastNorth africaArab news

Saudi-based B2B marketplaces raise combined $37 2m

RIYADH: Two competing Saudi business-to-business online marketplaces have announced fundraising, a further sign of the growing interest in the region’s startups. Sary raised $30.5 million in a Series B round led by VentureSouq and joined by new investors US-based Rocketship.vc and STV, Sary said in a press release. Existing shareholders Ra’ed Ventures, MSA Capital and Derayah also contributed to the funding round. Riyadh-based Retailo raised $6.7 million in a seed round led by existing investor Shorooq Partners and UK private equity shop Abercross Holdings, Retailo said a separate press release. Retailo, founded by former Careem executives, has now raised $9 million after being in operation for just nine months.

Saudi arabiaAr riyaUnited kingdomFadi ghandourSuneel gokhaleAbercross holdingsVenturesouq coBloomberg televisionRaed venturesShorooq partnersSouq co founderGeneral partner suneel gokhaleMiddle eastNorth africaசவுதி அரேபியாஆர் ரியா