Prexle raises $670K Seed funding round

Saudi Arabia: Prexle, a Saudi Arabia-based cloud Point of Sale (PoS) startup that helps owners run their stores, has completed its Seed funding round of $670K (2.5M SAR) from a number of angel investors.

Prexle helps retail store owners in industries such as groceries, clothes shops, electronics, and others to manage inventories, customers, purchase orders, discounts, and generate reports on sales, taxes, and inventories. The startup was founded in mid-2020, with the purpose to provide a unique and complete solution for retail owners.

The latest regulations in the Kingdom are imposing e-invoicing on transactions by the end of 2021. Prexle is one of the companies that are providing the service.

Abdullah Alajlan, CEO and Co-Founder of Prexle 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.”