Zid raises $2 million pre-Series A

Source: Zid

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Source: Menabytes 

Zid, a Riyadh-based Shopify-like e-commerce management startup that helps people (and businesses) set up their online stores has raised $2 million Pre-Series A, the startup announced yesterday. The round was led by VC arm of Elm, a leading Saudi technology company, and joined by China’s MSA Capital, Kuwait’s Arzan VC and some angel investors.

Founded in 2017 by Mazen AlDarrab, a serial entrepreneur who has previously founded and led different companies, and Sultan AlAsmi, Zid enables people to create their online stores and manage them without having any technical knowledge through Zid’s web or mobile apps. The e-commerce-in-a-box solution also comes with services (at discounted prices) including delivery and payments from over 20 partners that can be integrated into any store in a plug-and-play manner.

The store owners, according to Zid’s website, also receive access to special prices for product photography, packaging, logistics, design, marketing, and even shared a workspace.

The startup that currently employs a team of 15 plans to use the investment to attract new segments in the retail industry and expand into new geographical markets.

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