• Saudi Arabia-based retail tech company Rewaa has closed a $45 million Series B round led by Wa’ed Ventures, Idrisi Ventures, and Unity Ventures, with participation from Vision Ventures, RZM Investments, Sedco Capital, Saned Partners, Palm Ventures, and Abdulrahman Saleh Al-Rajhi & Sons Company.
• Founded in 2018 by Mohammed Al-Qusair and Abdullah Al-Jadhai, Rewaa offers cloud-based POS and business management solutions that integrate accounting, inventory, and sales operations for SMEs.
• The funding will be used to accelerate AI-powered smart operating technologies, expand Rewaa’s capabilities for retailers in Saudi Arabia, and support the company’s next phase of growth.
• In 2023, Rewaa raised a $27 million Series A funding round, led by Wa’ed Ventures, the VC arm of Aramco, along with STC’s Corporate Investment Fund (CIF), Silicon Valley’s Graphene Ventures, Sadu Capital, Vision Ventures, Khwarizmi Ventures, RZM Investment, Derayah VC, and Abdulrahman Sulaiman Al Rajhi & Sons Investment Company.

Press release:

Rewaa has announced the closing of a $45 million Series B funding round, led by Wa’ed Ventures, Idrisi Ventures, and Unity Ventures.

The round saw participation from Vision Ventures, RZM Investments, Sedco Capital, Saned Partners, Palm Ventures, and Abdulrahman Saleh Al-Rajhi & Sons Company.

The funding will support Rewaa’s expansion strategy by accelerating the development of AI-powered smart operating technologies aimed at simplifying business management for small and medium-sized enterprises, while strengthening support for retailers across Saudi Arabia.

Founded in 2018 by Mohammed Al-Qusair and Abdullah Al-Jadhai, Rewaa provides point-of-sale and cloud-based solutions that unify operational and financial processes for merchants. Its platform integrates accounting, inventory management, and POS systems, enabling real-time synchronisation across physical stores and online warehouses.

This Series B follows a $27 million Series A round completed two years ago, which supported Rewaa’s rapid growth, expansion of its merchant base, and the digitisation of its operational processes.

Commenting on the round, Mohammed Al-Qusair, Co-Founder and CEO of Rewaa, said the new capital will accelerate the development of AI-driven operating technologies that help merchants reduce operational effort while improving efficiency and accuracy, reinforcing Rewaa’s position as a trusted operating platform for SMEs in the Kingdom.