Yalla Plus, a Riyadh, Saudi Arabia-based foodtech startup, has closed a $2.7 million seed funding round.
Investors
The round was led by Merak Capital, with participation from Khwarizmi Ventures, Isometry Capital, and angel investors from the Middle East and the United States.
Merak Capital is an asset management company based in Saudi Arabia. Founded in 2018, the firm specializes in investing in the technology sector across various equity classes, including private and public investments. Merak Capital manages private funds in venture capital, private equity, debt financing, and other asset classes.
Yalla Plus Use of Funds
The company plans to use the funds to expand its reach to 100,000 entrepreneurs across 50 countries in the Middle East, Europe, and Southeast Asia.
About Yalla Plus
Founded by Abdullah Alrabeh and Bader Alnasser, Yalla Plus provides an integrated POS system that includes payment management, customer feedback processing, and delivery solutions. The system offers detailed data analytics to enhance operational efficiency and performance. The company currently serves thousands of entrepreneurs across 11 countries and aims to extend its reach to 100,000 entrepreneurs in 50 countries across the Middle East, Europe, and Southeast Asia.
Funding Details
Company: Yalla Plus
Raised: $2.7M
Round: Seed Round
Funding Date: August 2024
Lead Investor: Merak Capital
Additional Investors: Khwarizmi Ventures, Isometry Capital, angel investors
Company Website: https://www.yallaplus.com/
Software Category: Point of Sale System
Source: https://www.wamda.com/2024/08/saudi-foodtech-yalla-plus-closes-2-7-million-seed-round