عربي

MDD closes Series A round for 5% stake

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Arabic

MDD closes Series A round for 5% stake
  • Saudi Arabia-based logistics startup MDD has closed its Series A round for a 5% stake with a valuation of $26 million (SAR100 million).
  • Founded in 2019, MDD provides supply chain solutions for businesses.

Source: EntArabi

MDD Saudi Arabia, a company specialising in supply chain and procurement management, announced the closure of a Series A investment round without disclosing the specific financial value. The company stated that the investment was made by an individual investor, with 5% of the company’s shares sold at a valuation exceeding SAR100 million.

Founded in Riyadh in mid-2019, MDD aims to provide solutions for challenges in the business sector’s supply chain and procurement market. The company integrates financial technology with supply chain and procurement management, covering the entire process from order initiation to financing, sourcing, and payment through its “OFSP” methodology.

MDD also mentioned that it had previously received preliminary approval for its business model from the Saudi Central Bank (SAMA) and is striving to bridge current gaps in the sector, particularly those related to financing.

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