Saudi Arabia’s Sary collects USD75m in latest funding round

(MENAFN) Saudi Arabia’s digital marketplace Sary, which links SMEs with traders, has collected USD75 million in funding to spread out all over the Gulf, raise its staff workers and increase its variety of goods and facilities.

The Series C funding round was conducted by Public Investment Fund-backed Sanabil Investments, totaling Sary's overall collected fund until now to USD112m. New stockholders in the most recent round involve Wafra International Investment Company as well as Endeavor Catalyst, with STV, MSA Capital, Rocketship.vc, VentureSouq and Ra'ed Venture as present stockholders.

According to Sary co-founder, Mohammed Aldossary statement, “over the last 24 months, Sary has built one of the largest and most efficient FMCG [fast moving consumer goods] distribution networks in KSA,” and added, “as a Saudi-based start-up, the $1.59 trillion broader GCC market is a natural next step for us.”

MENAFN20122021000045013568ID1103401466