![\"Rewaa](\"https:\/\/mms.businesswire.com\/media\/20230830318673\/en\/1878089\/4\/Rewaa_Founders_Mohammed_Alqasir_Abdullah_Aljadhai.jpg\")
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Rewaa Founders Mohammed Alqasir (left) Abdullah Aljadhai (right) (Photo: AETOSWire)<\/p>\n<\/div>\n
STC\u2019s Corporate Innovation Fund (CIF)<\/b> participated in the round alongside Silicon Valley\u2019s Graphene Ventures, Sadu Capital, Vision Ventures, Khwarizmi Ventures, RZM Investment, Derayah VC, and Abdulrahman Sulaiman Al Rajhi & Sons Investment Company.<\/p>\n
According to the founders, the company processed over $2 billion in transaction value to date, making it one of the fastest-growing SaaS companies in MENA, serving more than 7,000 retailers in Saudi and abroad, and creating over 250 jobs.<\/p>\n
\u201cThis 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,\u201d said Mohammed Alqasir, Co-Founder and CEO at Rewaa.<\/p>\n
Since its foundation in 2018 by Mohammed Alqasir and Abdullah Aljadhai, Rewaa provides a cloud-based solution that interlaces online and physical store inventory. While offering point-of-sale (POS) and accounting modules for an integrated platform, Rewaa aims to become the retailers\u2019 tech partner by providing advanced technical solutions to manage inventory, sales, and payments.<\/p>\n
\u201cRewaa\u2019s revolutionary approach to digitizing and optimizing operational processes based on efficiency and scale-up goals for SMEs perfectly addresses the needs of the typically-scattered retail industry,\u201d said Fahad Alidi, Managing Director at Wa\u2019ed Ventures.<\/p>\n
He adds: \u201cWe had the privilege of knowing Mohammed and Abdullah 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.\u201d<\/p>\n
\u201cWe are pleased to invest in Rewaa, which has proven itself through the tremendous growth it has achieved in recent months and thanks to the great team behind these achievements.<\/p>\n
Through our investment in this company, we seek to participate in developing technologies supporting the retail market, including Rewaa’a company,\u201d commented Majed AlJarboua, General Manager at stc corporate funds & entrepreneurship.<\/p>\n
More information can be found here https:\/\/www.rewaatech.com\/en\/rewaa-series-a\/<\/a><\/p>\n Source: <\/b>AETOSWire<\/b><\/a><\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20230830318673\/en\/<\/a><\/p>\n<\/p>\n
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