Saudi Arabian E-commerce fulfilment service Salasa raises $8.6M Series A funding round
Saudi-based Salasa, a cloud-based turnkey solution for e-commerce businesses providing access to a professional logistics fulfilment network in Saudi Arabia, has announced today that the company has raised capital worth US$8.6 million in the Series A round. Led by AlSulaiman Group with the participation of Saudi Venture Capital Company (SVC) and 500 Startups, the current investment will help Salasa to expand its services to additional states within Saudi Arabia and the Gulf countries, expand its team and grow its network of partners.
Commenting on the investment, Salasa Co-Founder and CEO Abdulmajeed Alyemni 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. Our ongoing strategy is to maintain transparency, be flexible in our services and able to scale our business to the next level. We would like to replicate this in all the markets we establish.”
“Our clients receive the products they order online delivered at their doorstep by the click of a button. Since its launch, Salasa has been a game changer in the Kingdom, helping brands to grow faster by eliminating their logistic pains and focus on customer fulfilment. To-date Salasa has shipped more than 10 million products and has served more than 300 local and international clients across more than 15 industries, of which we are proud.”
Established in late 2016, Salasa was founded by Abdulmajeed Alyemni and Hasan Alhazmi, industrial engineers with a great track record in the supply chain field. The founders were influenced by the report published by the global management consultancy firm, Bain and Company, that the e-commerce market in MENA is expected to reach US$28.5 billion by 2022. Despite its high growth potential, many e-commerce businesses were struggling to scale and satisfy customers, only because they lacked expertise to operate their warehouses. This inspired the founders to come up with a technology company that streamlines e-commerce fulfilment. Thus, Salasa came into being.
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Mr. Alhazmi, Co-founder and COO said: “We are poised for growth and we are aggressively investing in our proprietary technology to achieve superior operational excellence and utilize predictive analytics and insights to help our customers in making strategic decisions. 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.”
Saud AlSulaiman, CEO of AlSulaiman Group, said, "We feel proud to lead this investment round in a startup that provides services with a business model that promises rapid growth and development, especially in these difficult times where the world is going through with COVID19 pandemic and the urgent need to rely on e-commerce and supply chain. Our previous investments in the logistics industry can give a boost to Salasa where they can collaborate and build synergies."
AlSulaiman added that "we have full trust in Salasa team and its ability to move forward with the expansion and growth plan in the Kingdom and the whole region."
Salasa provides solutions, tools, and resources to develop new products, enter new markets and dynamically grow client businesses. This has resulted in developing systems, processes and teams that deliver products and goods at low-cost order fulfilment solutions, high level of accuracy and speed of fulfilment. Besides, Salasa also receives, scans, and shelves ecommerce products in Salasa warehouse. The company uses high-quality, industry-specific shrink-wrap, bundling and gluing materials to keep stock. As growth partners, Salasa provides its loyal customers an accurate and professional order fulfilment as quickly as possible.
Salasa CEO Abdulmajeed Alyemni shared his insights on KSA's venture surge, along with other stakeholders from the country's startup ecosystem in a webinar with us. Access the full webinar to hear his thoughts
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