YC-Backed KASO has successfully raised $10.5 million in seed funding. The round saw participation from BY VP, Hala Ventures, Seedra Ventures, Pioneer Fund, Spade Ventures, Derayah, Vulpes Ventures, Cyfr, regional family offices, and other strategic investors from KSA, along with contributions from previous investors such as GFC and MSA.
KASO, founded by tech entrepreneurs Manar Alkassar and Ahmed Soliman, is a leading B2B platform that digitizes and automates procurement between restaurants and food suppliers in the Middle East. Since its launch in 2021, the company has experienced a tremendous 5x growth in the past year and currently partners with more than 5000 entities in the KSA and UAE.
Beyond its core platform, KASO has successfully launched a fintech vertical. This new vertical offers payments and extended credit terms to restaurants while ensuring suppliers are paid seamlessly and on time. This service provides financial flexibility and transparency for both parties, further highlighting KASO’s commitment to leveraging technology to create effective solutions in the food supply chain.
The new funding will be used to expand operations, enhance its technology platform, and achieve a GMV of $1 billion within 12 months. This aligns with KASO’s commitment to creating a more efficient and sustainable food supply chain.
Check out the full press release here.