Nana Direct, a Saudi-based online grocery store on Thursday raised $6.6 million fresh funding from Middle East Venture Partners (MEVP), Impact46 and other investors including Saudi Venture Capital (SVC) and Wamda Capital.
Nana aims to transform the traditional supermarket experience for the users of the digital age and currently serves 13 cities across the kingdom.
The company will deploy these fresh funds to expand its presence across Saudi Arabia, onboard new stores & supermarkets, grow its team and build more vendor relations.
“Groceries form a significant fraction of a Saudi family’s monthly expenditure and I believed the experience they get in return could be enhanced manifold. All around MENA more and more offline retail verticals from electronics to food were moving online, and this is what led me to Nana, a supermarket in your mobile phone,” said Sami Alhelwah – Founder & CEO, Nana Direct
He said the platform has grown three-fold in turnover in the past year and is well on its way to better that in 2019.
“Our stores and supermarkets are the real champions. They shared the vision we had and have been so forthcoming throughout the integration cycle. It just goes to show that businesses, small and large, are welcoming technological innovation and that bodes well for all of us,” Sami added.
“At MEVP, we like to back strong founders with exceptional technical capabilities, who are building truly differentiated products; and that is exactly what we saw in Nana. What the Nana team does very well, is offer a large selection of products, delivered seamlessly; and this is executed on the back of very robust tech,” said Walid Mansour, partner and chief investment officer at MEVP.
ⓘ Source: Arabian Business