Riyadh, KSA, March 12, 2022: Main logistics firm Bosta has simply introduced the opening of its first workplace in Riyadh, marking the official launch of its enterprise to offer distinguished providers to its clients within the Kingdom of Saudi Arabia. This transfer was made in step with the nation’s Imaginative and prescient 2030 initiatives to assist the native financial system by way of numerous strategic packages aimed toward enterprise homeowners and entrepreneurs. The enlargement can be a part of Bosta’s plan to develop and supply its providers within the Center East, following a extremely profitable launch in Egypt.
The brand new enlargement is available in parallel with Bosta’s nice success in elevating a brand new spherical of funding (Pre-Sequence B) by way of regional and worldwide traders led by Khwarizmi Ventures, together with different present traders along with Hassan Allam Holding.
“We’re delighted to launch Bosta in Riyadh. We consider that this step will enable us to considerably develop our actions in a market that is essential to us. The launch of our workplace in KSA is a part of Bosta’s enlargement plans within the Center East this yr, which can be adopted by an extra launch within the area by the top of this yr,” stated Eng Mohamed Ezzat, Bosta Co-Founder and CEO . “Our workplace in Riyadh is the primary Bosta enterprise within the Arab area, persevering with our success began in Egypt in 2017, which managed to ship 10 million shipments since our introduction to the market,” he added.
Commenting on the launch, Chief Progress Officer at Bosta, Omar Yaghmour, stated: “KSA marks step one of Bosta’s enlargement to turn into a worldwide participant, our goal is to develop Bosta to turn into among the best gamers within the area.”
Bosta additionally introduced the appointment of Eng. Imad Fares as basic supervisor of its department in Riyadh. With over 20 years of expertise within the Gulf area, Fares was additionally the Managing Director of FETCHR in Saudi Arabia for 4 years. He joined Bosta as Managing Director of the KSA Workplace, the place he’ll lead the corporate’s development operations and set enterprise and enlargement technique.
“Given our proximity to gamers within the e-commerce area, we see the challenges and potential within the supply and logistics sector that Bosta’s technology-first mindset can handle. As a focal space with a big financial system and excessive e-commerce exercise, the attractiveness of the Saudi Freight & Logistics market attracts the eye of startups and traders. After its immense success since its inception in Egypt, we’re delighted to witness and assist Bosta’s accelerated development because it begins operations within the Kingdom,” commented Abdulaziz Al-Turki, Managing Associate at Khwarizmi Ventures.
In a latest report by the Saudi Fee for Communications and Info Know-how, it confirmed that the overall monetary worth of requests made by way of supply requests has reached greater than two billion riyals ($533 million) for the reason that begin of the COVID-19 pandemic, with a complete of 26 million claims, a rise of as much as 250% in comparison with pre-pandemic figures.