OTO, a Riyadh-based software as a service (SaaS) startup, closed a $3 million seed funding round from MEVP and Derayah Capital.
The funding will be used to grow the company’s customer base across the GCC and Egypt, while also working to create new products and features.
Company: OTO Global Inc.
Raised: $3.0M
Round: Seed Round
Funding Month: October 2021
Lead Investors: MEVP and Derayah Capital
Additional Investors:
Company Website: https://www.tryoto.com/
Software Category: all-in-one shipping management software
About the Company: OTO is an all-in-one shipping management software for eCommerce businesses and omnichannel retailers, helping brands ship, manage, track, and return their online orders with over 100 shipping carriers via one single dashboard. OTO has more than 400 registered brands shipping their online orders locally and internationally, including well-known brands like Zain, SACO, Arabian Oud, Zohoor Alreef, The Body Shop, Cardial, and others. In just 18 months, OTO has built integrations with over 100 carriers and 15 sales channels, making them the largest integrator for shipping services in the MENA region. OTO is currently offering its services in Saudi Arabia, the UAE, Kuwait, Oman, Qatar, Bahrain, and Egypt. The company plans to continue hiring top talents from around the world while supporting triple-digit revenue growth.
Source: https://www.arabianbusiness.com/funding/469542-riyadh-based-oto-closes-3m-seed-funding-round