JEDDAH: Saudi fintech startup Prexle has raised SR2.5 million ($670,000) in seed funding from angel investors, the company announced this week.
A cloud-based point-of-sale software startup, Prexle’s platform helps retail store owners control inventories, customer demands, purchasing orders, discounts and generate business performance reports.
In a press statement, CEO and co-founder Abdullah Al-Ajlan said: “We’re happy to close our round of investment, which is going to surely help us improve the retail industry in the Kingdom through employing the latest technologies in the point-of-sale industry.”
Yazeed Al-Saif, co-founder and chief technology officer, added: “We value our investors’ trust. This round marks an important milestone in our journey to change the way retail works, and will allow us to even further develop and improve our product.”