The exact size of the investment is not public yet. However, the company stated that the proceeds from the round will help Postage to expand its operations in Riyadh and the Eastern Saudi regions. Besides that, the startup will also deploy a part of the new capital to extend its outreach and partnerships to Abha, Al Qassim, and Jeddah.
Postage was founded by Abdulrahman AlAFaliq in 2019. The company’s last-mile delivery service covers a wide range of goods including clothes, books, household items, and so on. It has tie-ups with more than 50 local and international e-commerce platforms.
Postage prides itself as the first last-mile operator to offer guaranteed same-day delivery between Dammam and Riyadh. Not only that, but it also offers a two-hour delivery service available for users across Riyadh.
“The Saudis are digitally savvy and used to expecting everything instantly,” said AlAfaliq, further adding, “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.”
Currently, Postage is focusing on improving the company’s inventory management and IT infrastructure. The new capital from Wa’ed is expected to give a big boost to those efforts.