Nana, the startup often touted as one of Saudi Arabia’s fastest-growing tech platforms, has raised $18 million in a Series B round.
Several local and regional investors participated in the funding round including heavyweights such as Saudi Technology Ventures (STV), Middle East Venture Partners (MEVP), Impact 46, Watar Partners, Saudi Venture Capital Company (SVC), and Wamda Capital.
With an active presence across 14 of the largest Saudi cities, Nana has established itself as a convenient online grocery network for an increasingly growing user-base. Among other features, the platform powers hypermarkets by enabling them to make available their inventory to millions of Nana users.
The process is pretty simple — all you have to do is browse the marketplace from the comfort of your home and have your purchases handed over to a delivery executive for home delivery. Nana’s all-encompassing interface lets you track the progress in real-time.
Speaking of the company’s steady progress and its good rapport with investors, Sami Alhelwah, Founder & CEO of Nana, stated: “We have spent the past year and a half removing the bottlenecks in everyday grocery buying for our users. There is a long way to go, and with investors such as MEVP and STV, we are confident of being Saudi’s leading consumer app.”
He also commented on the successful Series B round by stating: “This round will enable us to expand in KSA and outside. It will allow us to focus on further improving our stellar customer experience and develop technology solutions to support our partner’s growth and development.” Sami added.
Worth noting here is that Nana’s turnover has grown three-fold over the past year and with newly forged partnerships with Carrefour, Farm Superstores, Panda, and Spar, just to name a few, the startup now finds itself in an ideal position to further improve its bottom line.