Salla, the leading SaaS e-commerce enabler in Saudi Arabia, has raised $130 million in a Pre-IPO funding round co-led by Investcorp and Sanabil, and with the participation of STV as the largest investor. This investment represents a milestone in Salla's journey and a testament to the platform's monumental impact on the regional e-commerce ecosystem.
Since our initial investment in Salla in 2020, the company has developed a comprehensive SaaS solution integrated with over 400 applications, empowering merchants to seamlessly build their e-commerce websites, manage inventories, process payments, and fulfill orders, all within a few hours.
Today, the company supports 80,000 active merchants generate over $7 billion in e-commerce sales. This growth not only underscores the escalating demand for e-commerce solutions in the region, but also highlights Salla's pivotal role in the digital economy: by providing a robust, scalable solution, Salla facilitates the transition of traditional businesses to the digital world and supports new entrepreneurs in launching their ventures.
Our decision to double down on Salla reflects our confidence in Nawaf Hariri and his team of over 160 developers focused on technology and product development to continue innovating and scaling, as we see a clear path for the company to become a flagship tech brand on the public market.
We are grateful to be part of Salla’s remarkable growth journey in enabling e-commerce landscape in MENA – congrats team, onwards and upwards!