Sanad puts its stakes in Jordanian start-up, POSRocket for s...| MENAFN.COM

Friday, 27 May 2022 10:47 GMT

Sanad puts its stakes in Jordanian start-up, POSRocket for sale


(MENAFN) The Sanad Fund for MSME put its stakes in POSRocket on sale, after the Saudi firm Foodics acquired Jordanian food technology start-up.

The profitmaking conditions of the trade, which was transported via the second equity sub-fund (ESF II), were not revealed.

According to the Luxembourg-domiciled fund statement published on Friday, Sanad has registered huge commercial revenues via the sale.

Based on Sanad board chairwoman Daniela Beckmann statement, “we are proud of the impact we have been able to achieve together with POSRocket and are delighted with the divestment … as it serves as a great example of our support of entrepreneurship in the region.”

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