Hosted at The Palestine India Technopark in Palestine, the Riyadh-headquartered B2B asset-light last mile startup, WeDeliver, has announced the closing of its unprecedented $2.4 million pre-Seed round. This is the largest pre-Seed round for a Saudi-based startup and the third-largest for a startup in the Mena region.
The company, founded by three industry entrepreneurs, launched operations in Riyadh in April 2020, just a few weeks after Covid-19 hit Saudi. It has since expanded operations to include Jeddah and Dammam and is set to disrupt the logistics industry.
WeDeliver has built an innovative asset-light operational model backed by technology to provide reliable and cost efficient last-mile delivery services promising same day delivery for same city shipments by utilising crowdsourced fleets of freelancers and crowdsourced warehouses.
The tech-driven platform connects e-commerce businesses with drivers heading in the right direction to deliver their parcels to the end consumers. The more interesting part of WeDeliver’s model is the crowdsourcing of its hubs that include easy-to-find locations that are used as collection spots to make it easier and faster for freelancer drivers to pick up bulk parcels at once and deliver them in nearby areas.
Ahmad Ramahi, Cofounder and CEO of WeDeliver says: “WeDeliver is a MENA start-up with a global vision, driven by an experienced team. We have ambitious plans to enrich our growth in the Saudi market and look forward to expanding to new regional markets.“
“We believe that our asset-light collaborative model will disrupt intra-city logistics, enabling faster, more efficient, low-cost delivery for businesses and online sellers,” continues Ramahi.
Mohammad Abu Kwaik, co-founder and CTO, says: “We are on a mission to develop a unique product to serve the fast evolution of our operations and to meet the fast growing market’s needs. Our operational model is incomplete without equipping it with top-notch technology solutions to enhance user experience, with more focus on the automation, optimisation and using data.”
Nasser Almaawi, co-founder of WeDeliver, says:“We realise that the overall experience of e-commerce is directly linked to the quality of last-mile delivery. Despite achieving a 300 per cent growth rate last quarter, we pay attention to quality of service, therefore, we are promising to provide an exceptional customer experience through a personalised delivery process by offering different last-mile delivery options with verified drivers, transparent pricing, and excellent customer support”.
The company’s founders are former Careem operations manager, Ahmad Ramahi; former head of technology at Nana, Mohammad Abu Kwaik; and Nasser Almaawi. Current round partners include Saudi logistics company, Salasel Alemdad, VEST investment company, Palestine Paltel Telcom Group, the Mutasami family fund, Arcom Technologies, along with Angels from leading management consulting firms, members of the Riyadh chamber of Entrepreneurship Organization, and the start-up is eager to partner with strategic institutional and individual investors who can add value beyond capital and support the promising expansion plans.