Prexle a Saudi FinTech start-up raises $670,000 in seed round

By Leandra Monteiro

Saudi Arabia-based cloud point of sale start-up which enables owners to run their stores has completed its seed round of 2.5m SAR by several angel investors. Founded in mid-2020, Prexle aims to provide a unique and complete solution for retail owners.

In a joint statement, CEO and co-founder, Abdullah Alajlan said, “We’re happy to close our round of investment, which is going to surely help us improve the retail industry in the Kingdom through employing the latest technologies in the point of sale industry”.

Yazeed Alsaif, co-founder and CTO added, “We value our investors’ trust; this round marks an important milestone in our journey to change the way retail works, and will allow us to even further develop and improve our product.”

Prexle helps retail store owners in industries such as groceries, clothes shops, electronics and others to provides POS services for retailers to manage inventories, customers, purchase orders, discounts, and generate reports on sales, taxes and inventories. And with the latest regulations in the Kingdom in imposing e-invoicing on transactions by end of 2021. Prexle is one of the companies that provide the service.