Supply chain & procurement management specialist MDD raised undisclosed Series A funding

Supply chain and procurement management specialist MDD Saudi Arabia revealed the conclusion of a Series A funding round without revealing the precise amount invested. A single investor made the investment, according to the company, which sold 5% of its shares for more than SAR 100 million.

MDD was established in the middle of 2019 with the goal of offering solutions for problems in the supply chain and procurement markets of the business sector. Through its “OFSP” methodology, the company covers the whole process from order initiation to financing, sourcing, and payment by integrating financial technology with supply chain and procurement management.

Additionally, MDD stated that it is working to close existing gaps in the industry, particularly those pertaining to funding, having previously received preliminary approval for its business plan from the Saudi Central Bank (SAMA).