– Saudi-based MDD successfully concludes its Series A funding round, raising $26.6 million.
– The funding round signifies a significant milestone for MDD, showcasing investor confidence in the company’s vision and potential.
– With this investment, MDD is poised to further enhance its capabilities in supply chain and procurement management, driving innovation and growth in the sector.
MDD Saudi Arabia, specializing in supply chain and procurement management, recently closed a Series A investment round, with the financial details undisclosed.
The investment, made by an individual investor, involved selling 5% of the company’s shares, valuing it at over SAR100 million.
Established in Riyadh in mid-2019, MDD is dedicated to addressing challenges in the supply chain and procurement market.
Integrating financial technology, the company offers end-to-end solutions covering order initiation, financing, sourcing, and payment through its “OFSP” methodology.
Additionally, MDD got prior approval from the Saudi Central Bank (SAMA) for its business model and aims to address industry gaps, particularly in financing, to enhance sector functionality.
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