Rewaa, a Saudi Arabia-based startup providing point-of-sale and cloud accounting software for SMEs, has raised $45 million in Series B funding as it looks to integrate AI capabilities across its platform.
The round was led by Wa’ed Ventures (the VC arm of Saudi Aramco), Sanabil Investments, and Unifonic Ventures, with participation from returning investors Vision Ventures, RZM Investment, Sadu Capital, Sanad Investment, Palm Ventures, and Abdulrahman Sulaiman Al Rajhi & Sons Company.
The fresh capital comes just over a year after Rewaa’s $27 million Series A, also led by Wa’ed Ventures, and will be used to build AI-powered tools designed to help small retailers automate operations and reduce manual work.
“Through this investment, we seek to accelerate the development of smart operating technologies based on artificial intelligence, with the aim of enabling traders to reduce operational effort and raise efficiency and accuracy in their business management,” said Mohammed Alqasir, co-founder and CEO of Rewaa.
Founded in 2018 by Alqasir and Abdullah Aljadhai, Rewaa offers a unified cloud platform that combines inventory management, accounting, and POS systems for retailers. The platform syncs data in real-time across physical store branches and online stores, giving merchants a single source of truth for their operations.
The startup claims to serve over 7,000 merchants across Saudi Arabia and the wider Middle East region, and says it has processed over $2 billion in transaction value since launch. It’s also created more than 250 jobs and was selected for the first cohort of Saudi Arabia’s Unicorns Program, which supports high-growth tech companies.
Saudi Arabia’s retail sector is undergoing rapid digitisation as the kingdom pushes to diversify its economy under Vision 2030. For small and medium-sized businesses, managing inventory, sales, and accounting across multiple channels has traditionally been fragmented and manual-intensive.
Rewaa’s value prop is consolidation: instead of juggling separate tools for POS, inventory, accounting, and e-commerce, merchants get everything in one platform. The company is now betting that adding AI-powered automation will help it stand out in a crowded market that includes global players like Shopify and Square, as well as regional competitors.
The quick follow-on from Series A investors suggests strong traction. Alqasir said the company has seen “rapid growth” in merchant acquisition and operational automation since the previous round.
With the new funding, Rewaa plans to build AI features that can predict inventory needs, automate bookkeeping tasks, and provide merchants with actionable insights—capabilities that could be particularly valuable for resource-constrained SMEs.
