Mrsool, Saudi Arabia's premier on-demand delivery service, has secured multimillion-dollar Series A funding led by Raed Ventures and STV to fuel its regional expansion efforts.
Target Information
Mrsool is the foremost on-demand delivery service in Saudi Arabia, founded in 2015 by Ayman Al Sanad and Naif al Samri. By the end of 2018, Mrsool had amassed a user base of 4 million registered users. The platform allows consumers to request deliveries of various items from local shops, leveraging a crowdsourcing model that connects shoppers with willing couriers. In 2018 alone, Mrsool processed over SAR 1 billion (approximately $270 million) in transactions, showcasing its robust presence in the Saudi market.
The service provides rapid delivery options beyond food, catering to a diverse array of merchants, groceries, and department stores. The founders have emphasized their commitment to enhancing customer satisfaction while navigating the competitive landscape of on-demand delivery services. As the demand for swift delivery options continues to grow, Mrsool aims to capitalize on these trends to solidify its leadership position in the sector.
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Industry Overview in Saudi Arabia
The on-demand delivery industry in Saudi Arabia is experiencing significant expansion, driven by the increasing penetration of mobile technology and a rising consumer preference for instant gratification. According to the GSMA, an estimated 76% of the Gulf Cooperation Counci
Similar Deals
Raed Ventures and STV
invested in
Mrsool
in 2023
in a Series A deal
Disclosed details
Transaction Size: $270M