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Venture capital

Saudi grocery e-commerce start-up Sary raises $30.5 mln in funding

Published: Updated:

Saudi Arabia’s Sary, a wholesale grocery e-commerce platform, said on Thursday it had raised $30.5 million in its latest funding round which it would use to finance expansion plans.

The business-to-business marketplace, launched in 2018, says it connects small retailers with wholesalers of fast-moving consumer goods.

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Sary said the new funds would help it expand geographically, add new products and services and move into new categories.

“It puts the company in a good position to own the wholesale and distribution value chain in Saudi,” it said in a statement.

Sary says its app has been installed by over 100,000 users.

The Series B funding round was led by VentureSouq, while STV, Rocketship.vc, Ra’ed Ventures, MSA Capital and Derayah VC
also invested, it said.

Read more: New e-commerce law will unlock Saudi Arabia’s massive potential