OTO, an all-in-one shipping management software for e-commerce businesses and OmniChannel retailers, on Monday announced a $3 million funding round from MEVP and Derayah Capital.
In a statement, Riyadh-based OTO said the funding was the largest seed raised by a SaaS company in MENA.
OTO is currently offering its services in Saudi Arabia, UAE, Kuwait, Oman, Qatar, Bahrain, and Egypt.
The funding will allow the company to grow its customers base across GCC and Egypt while executing its product roadmap, which includes releasing new features to help customers save time and money on their shipping and fulfillment processes, the statement said.
The company said it has built a technology that helps e-commerce brands ship, manage, track, and return their online orders with 100+ shipping carriers via one single dashboard.
OTO integrates with over 100 carriers and 15 sales channels including Aramex, UPS, DHL, FedEx, Magento, WooCommerce, Shopify, Zid and Salla, it said.
OTO said it has grown by 300 percent year to date in the number of processed orders compared to 2020 and it is expected to grow by 500 percent by the end of 2021.
They have 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 many others.
