Salasa, a technology fulfilment company that handles orders for e-commerce organisations, has 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 Al Sulaiman Group, with the investment helping the company to expand its network of partners and services across Saudi Arabia and the GCC.
Abdulmajeed Alyemni, Salasa’s co-founder and chief executive, said: “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.”
The company has shipped in excess of 10 million products to date
Founded in 2016, Salasa offers a range of services for e-commerce businesses that includes order fulfilment services and storage of products in its own warehouse. It also offers resources to help smaller e-commerce companies to develop new products and enter new markets. The company has shipped in excess of 10 million products to date on behalf of more than 300 local and international clients across 15 industries.
“We feel proud to lead this investment round in a start-up that provides services with a business model that promises rapid growth and development, especially in these difficult times when the world is going through Covid-19,” explained Saud Al Sulaiman, chief executive of Al Sulaiman Group, said.
Salasa offers a range of services for e-commerce businesses
“We have full trust in the Salasa team and its ability to move forward. The e-commerce market in the Middle East and North Africa region is booming due to the popularity of smartphones and high rates of internet penetration.
“The market outlook indicates significant growth in this sector, and we are confident, as experts in this field, we can meet client demands faster, with better delivery experience, at affordable prices,” Hasan Alhazmi, co-founder and chief operating officer of Salasa, commented.
“We are poised for growth and we are aggressively investing in our proprietary technology … to achieve superior operational excellence and utilise predictive analytics and insights to help our customers in making strategic decisions.”