Saudi Retail Tech Firm Rewaa Closes $45 Million Series B Round

Saudi retail tech company Rewaa has closed a $45 million Series B round, as it moves into its next phase with a focus on integrating artificial intelligence into its cloud-based point-of-sale and accounting platform for small and medium-sized businesses.

The round was led by Waed Ventures, Idris Ventures and Unity Ventures, with participation from Vision Ventures, Razm Investment, Sadu Capital, Sanad Investment, Palm Ventures, and Abdulrahman Suleiman Al Rajhi & Sons. The investment follows Rewaa’s $27 million Series A in 2023.

Founded in 2018 by Mohammed Al-Qussair and Abdullah Al-Judaie, Rewaa provides an integrated operating platform that brings together accounting, inventory management and point-of-sale systems, with real-time synchronisation across physical stores and online channels. The company has focused on helping merchants automate day-to-day operations and centralise financial and operational data within a single cloud environment.

With the new funding, Rewaa plans to accelerate the development of AI-driven features aimed at reducing operational workload for merchants and improving efficiency and accuracy in business management.