Saudi Q-commerce Firm Nana Acquires Egyptian Startup Rasseed to Expand Digital Gifting
The dark-store grocery platform bought the gift-card software provider for an undisclosed sum as it broadens beyond delivery into fintech and gifting.
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Nana, the Saudi quick-commerce and grocery-delivery company, acquired Egyptian startup Rasseed for an undisclosed value in October 2024. Founded in Saudi Arabia in 2016, Rasseed builds software that simplifies the purchase of branded and local gift cards, giving Nana a foothold in digital gifting.
The deal followed Nana's $133 million Series C in early 2023, one of the largest rounds ever raised by a Saudi startup, backed by Kingdom Holding and Uni Ventures. The acquisition came as Saudi Arabia's grocery-delivery market intensified following the entry of Meituan's Keeta.