{"id":84044,"date":"2024-03-05T00:00:00","date_gmt":"2024-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/05\/e-commerce-startup-salla-raises-usd-130-mn-pre-ipo-round\/"},"modified":"2024-03-05T00:00:00","modified_gmt":"2024-03-05T00:00:00","slug":"e-commerce-startup-salla-raises-usd-130-mn-pre-ipo-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/05\/e-commerce-startup-salla-raises-usd-130-mn-pre-ipo-round\/","title":{"rendered":"E-commerce startup Salla raises USD 130 mn pre-IPO round"},"content":{"rendered":"

Homegrown tech startup S<\/strong>alla secures big funds pre-IPO<\/strong>: <\/strong>Local e-commerce platform Salla<\/a> raised USD 130 mn in a pre-IPO investment round led by Bahrain-based alternative asset manager Investcorp and others, a statement by Investcorp<\/a> read yesterday. The round saw participation from PIF company Sanabil Investment and Riyadh-based venture capital firm STV, which is an existing shareholder in the startup, according to the statement.<\/p>\n

What we know: <\/strong>Investcorp made the investment in Salla through its USD 500 mn Saudi Pre-IPO Growth Fund, which provides funds for pre-IPO companies here. The transaction sees Investcorp Principal Robin Manssour joining Salla\u2019s Board of Directors, according to the statement. Investcorp declined to disclose information about the startup\u2019s valuation of a timeline for the potential listing, according to Bloomberg<\/a>. <\/p>\n

About Salla:<\/strong> Founded in 2016, Salla provides a SaaS (Software as a Service) solution that allows users to set up their e-commerce stores in Arabic to sell and deliver products to customers. It has enabled USD 7 bn in sales through its services with over 80k active merchants on the platform since 2020.<\/p>\n

Not the fund\u2019s first: <\/strong>The dedicated Saudi fund by Investcorp led a pre-IPO funding round for Saudi-based digital freight network TruKKer in 2022<\/a>. It also acquired a majority stake<\/a> in leading ICT services provider NourNet in the same year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investcorp made the investment in Salla through its USD 500 mn Saudi Pre-IPO Growth Fund<\/p>\n","protected":false},"author":1,"featured_media":84045,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[349,10,1351,1151,1350,2745,179,1352],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-e-commerce","tag-enterpriseam-ksa","tag-investcorp","tag-public-investment-fund-pif","tag-salla","tag-sanabil-investment","tag-startup-watch","tag-stv","wpautop","entry"],"acf":{"mongo_id":"2f41d1d7-5e73-4b5b-b98a-f8ace220543c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/308.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi E-commerce startup Salla raises USD 130 mn pre-IPO round","related_issue":[84027],"teaser":"Investcorp made the investment in Salla through its USD 500 mn Saudi Pre-IPO Growth Fund","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.ad9c3d40-c386-4439-a76c-6b34d87417b2.mp3"},"yoast_head":"\nE-commerce startup Salla raises USD 130 mn pre-IPO round - 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