Saudi’s Saee Raises $2.4 Million in Series A Round to Provide Last-Mile Delivery
The efficient express-delivery startup will use this investment to fuel local expansion and reach the Kingdom’s urban and rural areas.
Jeddah-based startup transport-tech Saee just closed its Series A round with $2.4 million in investment. The round was led by existing investors, including Saudi Arabia’s Business Incubators and Accelerators Company (BIAC), ABN Ventures, and TasHeel Holding. By providing last-mile delivery through freelancers, Saee will leverage this investment to fuel local expansion.
Established in the summer of 2016 in Jeddah, the innovative freelance service platform is a key area of focus for Saee, which will enable micro and small e-commerce platforms in the Kingdom to serve their clients better and faster. The new funding will further allow the company to gain prominence on its position as a leader in the freelancer-based last-mile delivery industry in the region.
“The new funding will enable the introduction of new services such as 45-minute express delivery and enable the company to expand its reach across the Kingdom's urban and rural areas,” says Saee’s CEO, Eihab Nassier. “The potential growth in the Kingdom's e-commerce sector is tremendous, but it is likely to create a huge operational challenge for last-mile delivery companies,” he adds.
With more than 1,000 active drivers on its platform, and over 50% of them being Saudis, Saee is providing an additional revenue stream to the many households in the Kingdom, in line with Saudi’s Vision 2030 programme.
"We at BIAC are always looking to lead the investment rounds to in disruptive homegrown technologies, and we aim to enable entrepreneurs to build and scale their companies, create more jobs in the market and contribute to GDP growth," says Nawaf Al Sahhaf,the CEO of BIAC.
The startup was previously known as “Kasper Cab,” a freelancer platform that focused on providing transport to working women between their homes and workplaces. In December 2017, the company built upon its network of freelancers and pivoted to last-mile deliveries for e-commerce platforms. Today, Saee delivers over 5,000 daily shipments from 10 various dispatch centers across the Kingdom.
