We show you our most important and recent visitors news details Postage raises Seed funding from Wa'ed in the following article
Hind Al Soulia - Riyadh - Saudi Arabia-based last-mile logistics startup Postage, has secured Seed funding from Wa’ed, Saudi Aramco’s Entrepreneurship Centre, to enable the company to further its services in Riyadh and Saudi’s Eastern region, and expand its planned outreach and partnerships to Jeddah, Abha and Al Qassim.
Founded in 2019, by Abdulrahman AlAFaliq, Postage offers delivery services for various goods ranging from clothing to books offered by 50 local and international e-commerce players. It claims to be the first last-mile operator to offer guaranteed same-day delivery between Riyadh and Dammam, as well as offering a two-hour delivery service across Riyadh. The latest round of investment will also be used to improve Postage’s IT infrastructure and inventory management as well as hire new talent.
“The Saudis are digitally savvy and used to expecting everything instantly,” said AlAfaliq. “With Postage, we are closing gaps in the marketplace and delivering the velocity needed to fuel e-commerce across the nation. I am grateful to Wa’ed for supporting Postage, which is helping Saudi businesses keep pace with demand for shorter delivery times and rapid growth in online commerce.”
Postage’s sales rose as online shopping accelerated during the Covid-19 pandemic, according to AlAfaliq, with many shoppers avoiding large crowds and malls.
“People can now purchase what they dream of in a click online,” he said. “The expectation now is that delivery should take place nearly as quickly. We’re trying to close the gap.”
According to Wassim Basrawi, Wa’ed’s managing director, Postage is a “game-changing business” which is “building a more diversified Saudi economy”.
“Postage is an example of a startup that is raising Saudi standards for timeliness and customer service,” said Basrawi.
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