Egypt-based B2B software as a service (SaaS) startup Weelo, has raised a six-figure Seed funding round, led by SkaleUp Ventures and Integral Capital, with participation from global investors from Hong Kong and Italy, AUC Angels and other angel investors.
Founded in 2018, Weelo offers affordable SaaS subscription-based tech solutions for micro, small, and medium enterprises (MSMEs). It manages the entire sales cycle from warehouse to cash collection through AI-powered analytics and real-time management system.
Weelo plans to digitally transform traditional sales and distribution models in the supply chain for MSMEs across various business verticals. With the cash injection, Weelo plans to expand to KSA, Jordan, and North Africa.
“B2B SaaS solutions will continue to grow as businesses move from on-premise technology to cloud technology. Real time management solutions for sales and distribution platforms will lead to opportunities within the supply chain,” said Mohamed Asfour, founder and CEO of Weelo.
“Sales and distribution automation is a major problem for suppliers in the Mena region according to Sophia Korayim, COO and co-founder of Weelo who said “the associated high cost, number of people, multiple systems required, and its maintenance make it very costly and complex for suppliers to manage their sales and distribution networks”.
Salma El-Hariry, Founder and CEO of SkaleUp Ventures added: “Weelo is at the forefront of the digital transformation needed to create efficiency, speed and transparency in emerging opportunity markets like the Middle East and Africa. With a user-friendly revolutionary product, a strong founding team, and innovative business model; it just made sense they will dominate the market easily and we wanted to share in building that success."