Technology startup Weelo has raised a six-figure seed funding round to transform sales order automation in the supply chain for micro-, small- and medium-sized enterprises (MSMEs) in the Middle East and North Africa (MENA) region.
Founded in 2018, the company is an alumnus of Flat6Labs and a Microsoft startup that empowers manufacturers, suppliers, and distributors in Egypt and the MENA region with affordable technology needed to compete in a global market.
Weelo’s solution requires no CAPEX or any upfront investment costs, which enables it to be an affordable SaaS subscription-based tech solution for many MSMEs, the startup states.
It plans to digitally transform sales and distribution automation in the supply chain for MSMEs across verticals in the MENA region.
The startup’s sales and distribution platform manages the entire sales cycle from warehouse to cash collection through artificial intelligence (AI)-powered analytics and real-time management system.
Mohamed Asfour, Founder and CEO of Weelo, said, “B2B SaaS solutions will continue to grow as businesses move from on-premise technology to cloud technology.”
He added, “Real time management solutions for sales and distribution platforms will lead to opportunities within the supply chain.”
Asfour developed the startup idea, with Co-Founder and COO Sophia Korayim, while working with major retailer chains in Egypt’s B2C supermarket e-commerce space. This was to find an optimum solution to manage their thousands of B2B suppliers.
“Sales and distribution automation is a major problem for suppliers in the MENA region, the associated high cost, number of people, multiple systems required, and its maintenance make it very costly and complex for suppliers to manage their sales and distribution networks,” said Korayim.
Salma El-Hariry, Founder and CEO of SkaleUp Ventures, said, “Weelo is at the forefront of the digital transformation needed to create efficiency speed and transparency in emerging opportunity markets like the Middle East and Africa.”
She added, “With a user-friendly revolutionary product, a strong founding team, and innovative business model; it just made sense they will dominate the market easily and we wanted to share in building that success.”
Weelo plans to scale operations to Saudi Arabia, Jordan, and across the North Africa region.