Saudi-based cloud POS and accounting solutions provider, Rewaa, has successfully closed a $45 million Series B funding round. This new capital injection will fuel the company’s next phase of growth, focusing on integrating artificial intelligence to streamline business management for small and medium-sized enterprises (SMEs) across the Kingdom.
Investor Confidence and Continued Growth
The investment round was co-led by Wa’ed Ventures, the venture capital arm of Aramco, alongside Idrisi Ventures and Unity Invest Partners. The round also saw participation from a strong syndicate of new and existing investors, including Vision Ventures, RZM Investment, Sadu Capital, Sanad Investment, Palm Ventures, and Abdulrahman Sulaiman Alrajhi & Sons Co.
This funding follows Rewaa’s impressive $27 million Series A round in 2023, signaling continued and robust confidence from the investment community in the company’s vision and accelerated growth in customer acquisition and operational automation.
An AI-Powered Future for SMEs
Rewaa plans to utilize the funds to accelerate the development of smart operational technologies powered by AI. The goal is to build a system that not only automates daily tasks but also preemptively identifies potential issues, analyzes business trends in real-time, and empowers merchants to make precise decisions regarding inventory, sales, and financial management.
“Through this investment, we aim to accelerate the development of AI-driven smart technologies to empower merchants, reduce operational effort, and enhance efficiency and accuracy in their business management,” stated Mohammed Alqasir, Co-Founder and CEO of Rewaa. “This brings us closer to achieving our vision of becoming the most trusted operating platform for SMEs in the Kingdom.”
About Rewaa
Founded in 2018 by Mohammed Alqasir and Abdullah Aljadhai, Rewaa provides a comprehensive, all-in-one cloud solution for SMEs. The platform integrates accounting, inventory management, and point-of-sale (POS) systems, enabling businesses to unify their operational and financial processes. It offers real-time synchronization between physical store branches and e-commerce inventories, providing merchants with a seamless way to manage their operations and focus on growth.
Source: Jawlah
