Wa’ed Ventures leads $27 million Series A funding round for retail technology startup Rewaa
Rewaa, a Saudi-based leading omnichannel inventory management system, accounting, and PoS platform for the retail industry, has raised $27 million in Series A funding round led by Wa’ed Ventures, a VC fund wholly owned by Aramco.
STC’s Corporate Innovation Fund (CIF) also participated, alongside Silicon Valley’s Graphene Ventures, Sadu Capital, Vision Ventures, Khwarizmi Ventures, RZM Investment, Derayah VC, and Abdulrahman Sulaiman Al Rajhi & Sons Investment Company.
“This investment propels us toward our vision of becoming the optimal tech partner for SMBs in the retail sector. By contributing to the industry's digital transformation, we aim to make an impact on retail merchants, enabling them to increase efficiency,” says Mohammed Alqasir, Co-Founder and CEO at Rewaa.
“Rewaa’s revolutionary approach to digitising and optimising operational processes based on efficiency and scale-up goals for SMEs perfectly addresses the needs of the typically scattered retail industry,” says Fahad Alidi, Managing Director at Wa’ed Ventures.
“We had the privilege of knowing Mohammed and fellow co-founder Abdullah Aljadhai since their early days as founders. We are proud to back their growth today as they transform Rewaa from a simple digital tool to the go-to cloud-based PoS and inventory management platform for local and regional retailers.”
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