– Nana acquires Egyptian fintech company Raseedi to introduce a digital card category within its app, broadening its service offerings and market reach.

– In February 2023, Nana raised $133 million in a Series C funding round led by Kingdom Holding and Uni Ventures, marking one of the region’s largest investment rounds.

– The acquisition signifies Nana’s strategic expansion into fintech, leveraging Raseedi’s digital solutions to diversify its services and enhance user experience in Saudi Arabia and beyond.

Saudi Arabian grocery delivery platform Nana has acquired Egyptian fintech company Raseedi for an undisclosed sum.

Founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, Nana operates as a digital grocery platform catering to daily, weekly, and monthly household needs. Raseedi, launched in 2018 by Ahmed Atalla and Samuel Samy, specializes in digital card solutions.

The acquisition will allow Nana to introduce a digital card category within its app, enabling users to purchase digital cards directly through the platform. This move is expected to expand Nana’s service offerings and strengthen its market presence.

Earlier, in February 2023, Nana raised $133 million in a Series C funding round led by Kingdom Holding and Uni Ventures, one of the largest investment rounds in the region.

With the acquisition of Raseedi, Nana is strategically expanding into fintech, aiming to diversify its services and strengthen its foothold in the e-commerce market. Leveraging Raseedi’s digital solutions, Nana plans to offer a broader range of services, meeting the evolving needs of users in Saudi Arabia and beyond.