Shgardi, an on-demand delivery app, successfully raises funding from Mad’a Investment Company
Shgardi, an on-demand delivery startup has successfully closed a funding round led by Mad’a Investment Company.
• Shgardi which was established by the end of 2019, provides delivery services all around the Kingdom through its 300 thousand representatives, most of which are Saudis.
• They currently serve more than 1 million customers and helps sectors such as restaurants, cafes, and retailers meet their customers’ demands and face the current challenges. Shgardi also contributes to the economy by providing Saudi men and women with flexible job opportunities.
• Through the efforts of more than 120 professional employees, the company benefits from the investment by providing new features and services in the upcoming period which will cause a qualitative shift in the delivery service market. Furthermore, they are also aiming to develop the customer experience, increase job opportunities available to Saudis, and double the growth and expansion rates in new markets by the end of this year.
CEO of Mad’a Investment Company, Mr. Abdullah Abdulaziz Al-Othaim said, "We are excited to see the outstanding success achieved by Shgardi to date and are certain that this investment round will enable them to further expand their operations".
Read the full press release below.
Shgardi successfully closed their investment round with Mad’a Investment Company as the lead investor. Shgardi which was established by the end of 2019, provides delivery services all around the Kingdom through its 300 thousand representatives, most of which are Saudis. Shgardi’s excellence comes from its rapid launch and quick adaptation to the changing circumstances in light of the ongoing COVID-19 pandemic. Shgardi currently serves more than 1 million customers and helps sectors such as restaurants, cafes, and retailers meet their customers’ demands and face the current challenges. Shgardi also contributes to the economy by providing Saudi men and women with flexible job opportunities.
Abdulaziz Al-Mousa, Founder and CEO of Shgardi, announced that the app’s slogan “Shgardi delivers anything” defines the vision of the company, since the application specializes in delivery services from restaurants, pharmacies, groceries, and all stores in the Kingdom. Moreover, through the efforts of more than 120 professional employees, the company benefits from the investment by providing new features and services in the upcoming period which will cause a qualitative shift in the delivery service market. Furthermore, the company also aims to develop the customer experience, increase job opportunities available to Saudis and double the growth and expansion rates in new markets by the end of this year.
The CEO of Mad’a Investment Company, Mr. Abdullah Abdulaziz Al-Othaim said that "We are excited to see the outstanding success achieved by Shgardi to date and are certain that this investment round will enable them to further expand their operations". He further emphasized that Mad’a Investment Company seeks to support entrepreneurial projects in the region, improve the business environment and provide more job opportunities for young national cadres.
Al-Othaim added that the Kingdom's Vision 2030 pays great attention to the small and medium-size enterprises sector in order to raise its level of contribution to GDP from 20% to 35% by 2030, noting that Mad’a Investment Company’s strategy is consistent with the Kingdom's Vision 2030 regarding job creation, supporting innovation, supporting startups and contributing to the diversification of the base of the national economy.
Are you a startup looking for investment? Apply for funding to 75+ investors now.
The Lebanese startup ecosystem saw an increase of 18% in startup deals between 2018 and 2019, with 45 deals taking place. While the number of investments has gone up, the majority of these involve Early-Stage companies. Discover more details in our 2019 Lebanon Venture Investment Report.