Wadiâ€“a year on since Series-A funding
Wadi, a leading ecommerce site in KSA and UAE, marks its one year anniversary since receiving $67 million Series-A funding.
Last year, Wadi was the largest Series-A round among tech start-ups in the Middle East, and has seen 100 per cent growth since the funding was received. Wadi’s biggest allocation was distributed into creating four pillars–branding, assortment, technology, and operations infrastructure that make the brand well recognised and recommended.
“It has been a very exciting year at Wadi - it's a great validation to be acknowledged as a mature and relevant e-commerce player by our customers, partners and vendors. Our focus on delivering exceptional deals and an exceptional customer experience across a wide range of categories is paying off. The faith our investors showed in us with our last raise only pushed the team work harder. 2017 will be even more exciting - we will grow and innovate at a much faster pace,” said Kanwal Sarfraz, one of Wadi.com’s founders.
The core of the business is to deliver products with remarkable prices with a smooth-running delivery service. In 2016, Wadi invested in multiple fully functioning warehouses across more than five cities in KSA and UAE, that saw capacity to ship increase by 120 per cent and twice as fast, as well as building technology to create and effective system that works in harmony with its self-owned last mile delivery service across more than 15 cities in KSA. In addition, Wadi has invested a great deal into ensuring that their customer service line is Toll free and active 24/7 across KSA and UAE making them the only ecommerce in the region to accomplish such service levels.
2016’s main focus for Wadi was to strengthen the fundamentals of the business to position itself well against other competitive ecommerce sites. In 2016 the company has grown from selling mainly mobiles and electronics products to expanding into lifestyle categories such as beauty, fashion, home, kitchen and soon baby and toys.
As Wadi moves further into 2017, the pipeline showcases exciting developments, from furthering customer satisfaction to creating a world-class platform for sellers. Figures showed that from February 2016 to February 2017, 95 per cent of customers were satisfied with more than 80 per cent of them being delighted. To increase these numbers in 2017, Wadi will introduce same day delivery service and seller-to-seller business.
In addition to increasing customer satisfaction, Wadi will expand their product ranges, release more exclusive products and introduce international brands to create more variety for their customers. Wadi is well known for their offerings on exclusive products; in 2016 Wadi was the first online retailor to stock the iphone 7 in KSA and UAE.
Following a successful year in 2016, Wadi’s funding has given the site the capabilities to accomplish large traffic and sales. With more than six million unique views a month, Wadi has been ranked as the number one shopping mobile application in KSA multiple times on android and IOS.
The beginning of 2017 saw an exciting milestone for Wadi, making one of KSA’s largest football teams their first strategic partners. The sponsorship for Al Nasser football team was announced in January 2017, with their logo taking prime position on the team’s jersey. This partnership puts a foot in the door for Wadi to KSA’s ever growing sporting scene, where they look to nurture young sports talent.