B2B eCommerce Marketplace Sary Raises Funds For Business Growth
Sary, a B2B eCommerce marketplace, has raised $75 million in a new funding round from a group of investors led by Sanabil Investments, wholly owned by the Public Investment Fund, as the platform seeks expansion in GCC. The Series C funding saw participation from new investors Wafra International Investment Company and Endeavor Catalyst alongside existing […]
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Sary, a B2B eCommerce marketplace, has raised $75 million in a new funding round from a group of investors led by Sanabil Investments, wholly owned by the Public Investment Fund, as the platform seeks expansion in GCC.
The Series C funding saw participation from new investors Wafra International Investment Company and Endeavor Catalyst alongside existing investors STV, MSA Capital, Rocketship.vc, VentureSouq, and Ra’ed Ventures.
With this new round of investment, Sary will grow geographically and will add new verticals and evolve its platformisation model by expanding its offering to integrate native solutions and other third-party services, it said.
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With the C round, Sary has managed to raise a total of $112 million in funding to date, making it one of the top-funded Saudi startups this year by venture capital funds.
Sary was founded in 2018 by ex-Careem GM Mohammed Aldossary and his co-founder Khaled Alsiari. The company aims at transforming the procurement experience in the Middle East, North Africa, and Pakistan region starting with Saudi Arabia, leveraging technologies to connect micro and small businesses with wholesale players, empowering their businesses to grow smartly, it said in the statement.
Since its inception, the platform has reached more than 350,000 customers, serving over 40,000 businesses, and moving more than 270,000 pallets of goods across Saudi.
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