Saudi Delivery Startup Shgardi Secures Seven-Figure USD Investment
The on-demand logistics startup already has over a million customers in the KSA, allowing users to order anything and everything they want through a network of around 30,000 drivers.
On-demand Saudi Arabian delivery startup, Shgardi, has just secured a hefty investment from Mad’a Investment, a Riyadh-based investment firm. While the exact number hasn’t been disclosed, we do know that it is a whopping seven-figure USD deal.
The delivery startup is simple in concept, order anything you like from any place you like (food or otherwise), and have it delivered straight to your door by one of Shgardi’s network of freelance drivers.In essence, Shgardi is the same concept as Mrsool, one of it’s primary competitors in the Saudi market, and has been compared to Spain’s Glovo.
Shgardi currently has a customer base of over a million people and around 300,000 drivers, most of which are Saudi. With the new investment, the startup plans to double its growth and expansion by entering new markets, levelling up their customer experience, and provide increased employment opportunities for Saudis.
Mad’a Investment Company is an active participant in the technology sector, having been involved with Babysouk and HyperPay in the past. The company’s mission is to support entrepreneurial undertakings in the Arab world along with providing more work opportunities for its youth.
