Retailo
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| Private | |
| ISIN | 🆔 |
| Industry | B2B Marketplace |
| Founded 📆 | July 2020 |
| Founder 👔 | |
| Headquarters 🏙️ | Riyadh |
Area served 🗺️ | Saudi Arabia; Pakistan; UAE |
Key people | Wahaj Ahmed , Muhammad Talha Ansari , Muhammad Nowkhaiz |
| Services | E-commerce; Logistics; Digital payments; Financial services |
| Members | |
Number of employees | 500+ |
| 🌐 Website | https://retailo.co/ |
| 📇 Address | |
| 📞 telephone | |
Retailo is a multinational technology company that focuses on e-commerce, logistics, payment infrastructure and financial services.
Founded in July 2020 by former Careem executives Talha Ansari, Wahaj Ahmed and Muhammad Nowkhaiz, Retailo raised $9 million in 9 months[1] from a diverse group of international investors that include institutions from Silicon Valley, UK, and GCC and also high net worth individuals (HNWs).
With the help of technology and real-time data, Retailo aims to engage over 10 million SMEs in the Middle East, North Africa, and Pakistan's retail industry, and help them adopt a new digitized way of acquiring goods for their retail outlets.[2]
History and operations[edit]
The company's co-founders wanted to address the breakdown of supply chains affected by Covid-19. Before launching in July 2020, Retailo ran a successful six-month pilot program to test the waters of the retailing landscape of MENAP and then raised seed funding worth nine million dollars in nine months. Rather than start in one market and then scale to other countries, the founders decided to be multi-market players and started operations in Saudi Arabia and Pakistan simultaneously.[3]
The company is headquartered in Riyadh and is operational in multiple markets in the MENAP region.[4] Its senior management team includes representatives from Careem, McKinsey, Rocket Internet, Amazon, eBay, Dubizzle, Daraz, and Foodpanda.
Retailo sources the inventory for its outlets through its marketplace. It currently provides services to over 40,000+ active retailers that can access more than 2,000 SKUs[5] from the Retailo app which are delivered to them within 24-hours of order placement. Retailo’s 500+ colleagues are spread across multiple cities in MENAP and fulfil tens of thousands of retailers’ orders every month. This vast operation is managed through multiple warehouses that store inventory from hundreds of brands, many of which are direct Retailo partners.[6]
In March 2021, Retailo and Hilal Foods Pvt Ltd, a Pakistani confectionery and food manufacturing company, partnered to solve the supply chain issues of local store owners and retailers in the region.[7] The same month, Retailo partnered with Maersk for warehousing services in Pakistan.[8][9] Through this regional partnership, Retailo will be able to rely on Maersk for its expanding business needs by getting access to purpose-built warehouses and expand the scale of its business.[10]
In September 2021, Retailo inked a partnership with Meezan Bank aimed at providing deserving retailers financing in Shariah-compliant manner to expand and support their small businesses. This financing was sourced from Prime Minister's Kamyab Jawan - Youth Entrepreneurship Scheme (YES).[11] The same month, it partnered with L'Oréal to launch a new cosmetics line in Pakistan. In conjunction with this agreement, L’Oréal Paris brands and products will be made more readily available to a broader variety of consumers through Retalio and its network, therefore addressing the many supply chain difficulties that businesses are experiencing while the Covid-19 pandemic continues.[12][13]
Investment[edit]
In October 2020, the firm received $2.3 million[14] in a pre-seed fundraising round led by Abu Dhabi-based Shorooq Partners.[15][16] In May 2021, it raised another $6.7 million[17][18][19] courtesy of Shorooq Partners[20] as well as Abercross Holdings in the United Kingdom, AgFunder in the Silicon Valley, and Arzan Venture Capital in the Middle East. Along with institutional investors, key individual investors also include Junaid Iqbal, former MD of Careem Saudi Arabia and Pakistan who also serves as an advisor to the Retailo team.[21] With an overall investment of $9 million just nine months after it began operations,[22][23] it was dubbed as the "fastest-growing" B2B platform in the MENAP region.[1]
References[edit]
- ↑ 1.0 1.1 Dawn.com (2021-05-06). "Startup Retailo secures $6.7 million seed funding, total investment reaches $9m". DAWN.COM. Retrieved 2021-12-30.
- ↑ "Retailo raises $6.7 million seed round". Wamda. Retrieved 2021-12-30.
- ↑ Chaudhary, Zeenat (2021-11-30). "Retailo: The B2B Marketplace for SME Retailers". Aurora Magazine. Retrieved 2021-12-30.
- ↑ "These 3 startups are here to disrupt the traditional systems of Pakistan!". Global Village Space. 2021-06-04. Retrieved 2022-01-08.
- ↑ "Why did Retailo raise a phenomenal seed round?". Profit by Pakistan Today. 2021-05-09. Retrieved 2022-01-08.
- ↑ "RETAILO TECHNOLOGIES". F6S. Retrieved 2021-12-30.
- ↑ "Retailo, Hilal Foods announce partnership". The Nation. 2021-03-08. Retrieved 2022-01-08.
- ↑ "Retailo, Maersk to jointly offer warehousing solutions in Pakistan". The Loadstar. 2021-03-30. Retrieved 2022-01-08.
- ↑ "Retailo signs strategic partnership with Maersk". www.thenews.com.pk. Retrieved 2022-01-08.
- ↑ "Retailo Signs Strategic Deal with Maersk for Warehousing in Pakistan | Transport Security International Magazine". www.tsi-mag.com. Retrieved 2021-12-30.
- ↑ "PM's Kamyab Jawan Scheme: Meezan Bank, Retailo sign MoU". Brecorder. 2021-09-03. Retrieved 2021-12-30.
- ↑ "L'Oréal Pakistan partnering with Retailio". Lahore Herald. 2021-09-30. Retrieved 2021-12-30.
- ↑ "Loreal & Retailo are Launching a Cosmetic Line". Economy.pk. 2021-09-30. Retrieved 2021-12-30.
- ↑ "Retailo Raises $2.3 Million in Pre-Seed Funding". WAYA. 2020-10-13. Retrieved 2021-12-30.
- ↑ "Asia Digest: Pakistani B2B platform Retailo raises $2.3m; HK's Talon Esports raises $2m". DealStreetAsia. Retrieved 2021-12-30.
- ↑ "$2.3 million pre-seed in Saudi & Pakistan raised by Retailo". Startup Pakistan - Startups, Technology and Business News From Pakistan. 2020-11-25. Retrieved 2021-12-30.
- ↑ "Retailo successfully raises $6.7 million in seed round". My Startup World - Everything About the World of Startups!. 2021-05-06. Retrieved 2021-12-30.
- ↑ "KSA-based Retailo raises $6.7M Seed funding | MAGNiTT". magnitt.com. Retrieved 2021-12-30.
- ↑ Khan, Mutaher (2021-08-02). "Focusing on the average dukanwala". DAWN.COM. Retrieved 2022-01-08.
- ↑ "Shorooq Partners launches MENA's 1st venture debt fund". www.zawya.com. Retrieved 2022-01-08.
- ↑ "Retailo raises $6.7 million seed round". Wamda. Retrieved 2021-12-30.
- ↑ "Saudi startup Retailo closes $9m in seed funding". Arab News. 2021-05-20. Retrieved 2021-12-30.
- ↑ "Riyadh-based Retailo raises $6.7 million seed to grow its B2B marketplace in MENAP". MENAbytes. 2021-05-06. Retrieved 2022-01-08.
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