Weelo, the B2B cloud-based SaaS solution startup, has raised a six-figure Seed funding round, led by SkaleUp Ventures and Integral Capital, alongside global investors from Hong Kong to Italy and additional investors including AUC Angels, and other angel investors.
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Founded in 2018, Weelo, an alumnus of Flat6Labs and a Microsoft startup, empowers manufacturers, suppliers, and distributors in Egypt and the MENA region with affordable technology needed to compete in a global market. Weelo’s solution requires no CAPEX or any upfront investment costs which enables it to be an affordable SaaS subscription-based tech solution for many Micro, Small, and Medium Enterprises (MSMEs), the startup states.
Weelo plans to digitally transform sales and distribution automation in the supply chain for MSMEs across verticals in the MENA region. Weelo’s sales and distribution platform manages the entire sales cycle from warehouse to cash collection through AI-powered analytics and real-time management system.
Mohamed Asfour, Founder and CEO of Weelo commented, “B2B SaaS solutions will continue to grow as businesses move from on-premise technology to cloud technology. Real time management solutions for sales and distribution platforms will lead to opportunities within the supply chain."
Asfour developed the startup idea with Co-Founder and COO, Sophia Korayim, while working with major retailer chains in Egypt’s B2C supermarket E-commerce space to find an optimum solution to manage their thousands of B2B suppliers.
“Sales and distribution automation is a major problem for suppliers in the MENA region, the associated high cost, number of people, multiple systems required, and its maintenance make it very costly and complex for suppliers to manage their sales and distribution networks,” said Korayim.
Salma El-Hariry, Founder and CEO of SkaleUp Ventures added, “Weelo is at the forefront of the digital transformation needed to create efficiency speed and transparency in emerging opportunity markets like the Middle East and Africa. With a user-friendly revolutionary product, a strong founding team, and innovative business model; it just made sense they will dominate the market easily and we wanted to share in building that success."
Weelo plans to scale operations to KSA, Jordan, and across North Africa.
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