Salla, Saudi E-commerce Innovator, Raises $130M in Pre-IPO Funding Round

Salla, Saudi E-commerce Innovator, Raises $130M in Pre-IPO Funding Round

By Staff Writer, 07 March 2024

Investcorp, a leading global alternative investment firm, has spearheaded a pre-IPO funding round worth $130 million for Salla, a prominent Software as a Service (SaaS) e-commerce platform in Saudi Arabia.

Joining the investment fray are the Public Investment Fund of Saudi Arabia and Sanabil Investment, a wholly-owned subsidiary.

STV, a local venture capitalist and an existing shareholder in Salla, also participated in the investment drive.

Founded in Makkah in 2016 with a vision to bolster Saudi Arabia's entrepreneurial landscape, Salla has been providing Small and Medium Enterprises (SMEs) and aspiring entrepreneurs with a tailor-made SaaS solution to realize their e-commerce ambitions.

The platform presently grants retailers entry into a burgeoning $20 billion e-commerce market, projected to grow at an impressive rate of over 25% annually in the forthcoming years.

Boasting a user base of more than 80,000 active merchants, Salla has facilitated e-commerce sales exceeding $7 billion since the year 2020.

The company, under the stewardship of founders Nawaf Hariri and Salman Butt, employs a dedicated team of over 160 developers focused on advancing technology and product offerings.

Salla's innovative approach equips businesses with a seamless, fully automated digital solution, empowering them to establish their online presence, commence accepting payments within hours, and efficiently manage product shipments to customers.

With an extensive suite of over 400 applications, Salla caters to every aspect of online business operations, seamlessly integrating with payment gateways and logistics partners to provide a comprehensive e-commerce experience for merchants.

Source: Ila Dhond / Incubees

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