Weelo, a B2B cloud-based SaaS solution startup, has raised a six-figure Seed funding round led by SkaleUp Ventures and Integral Capital, with additional investors including AUC Angels and other angel investors, as well as global investors from Hong Kong to Italy.
Weelo, a Microsoft startup and a Flat6Labs alumnus, was established in 2018 to provide producers, suppliers, and distributors in Egypt and the MENA region with affordable technology to compete in a global market.
According to the startup, Weelo’s solution has no CAPEX or upfront investment costs, making it an attractive SaaS subscription-based software solution for many Micro, Small, and Medium Enterprises (MSMEs).
In the MENA zone, Weelo intends to digitally turn sales and distribution automation in the supply chain for MSMEs across verticals.
Weelo’s sales and distribution software uses AI-powered analytics and a real-time management system to handle the entire sales cycle from warehouse to cash collection.
“B2B SaaS solutions will continue to expand as businesses shift from on-premise technology to cloud technology,” said Mohamed Asfour, Founder and CEO of Weelo. Real-time management tools for sales and distribution platforms would open up supply chain opportunities.”
Although working with major retailer chains in Egypt’s B2C supermarket E-commerce space to find an optimal way to handle their thousands of B2B suppliers, Asfour created the startup idea with Sophia Korayim, Co-Founder and COO.
“Sales and distribution automation is a major problem for suppliers in the MENA region,” said Korayim. “The related high cost, number of people needed, multiple systems required, and its maintenance make it very expensive and complicated for suppliers to manage their sales and distribution networks.”
“Weelo is at the forefront of the digital transformation required to build productivity, pace, and transparency in emerging opportunity markets like the Middle East and Africa,” said Salma El-Hariry, Founder and CEO of SkaleUp Projects. Of a groundbreaking product that is simple to use, a large founding team, and an ambitious business model, It was only inevitable that they would easily dominate the market, and we wanted to be a part of that success.”
Weelo intends to expand its operations to Saudi Arabia, Jordan, and the rest of North Africa.
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