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Repzo raises a $1.4M Bridge Round

Date: 28/04/2022

SaaS Sales Force Automation platform Repzo has raised a $1.4M bridge round in their latest fundraise to develop new products.

Jordan-based SaaS platform Repzo has raised a $1.4M bridge round in their latest fundraise. The funding round was led by the Arab Palestinian Investment Company (APIC)Jabbar Internet GroupAhli FintechArzan VCShorooq PartnersAdamtech Ventures, and a group of angel investors.

Founded in 2017 by Hassan Atmeh alongside his brother Moutaz and cousin Ayman, Repzo provides a sales force automation solution that helps FMCG & Pharmaceutical companies to better manage and measure KPIs of their field workforce by offering GPS tracking, sales order automation, inventory management, and merchandising solutions.

The Jordan VC ecosystem has seen a dip in funding and number of transactions in the first quarter of this year compared to Q1’21. As recorded in our MENA Q1 2022 Venture Investment Report, funding in Jordan dipped by 85% with only 5 transactions recorded in comparison to last year’s 14 in Q1. Unlike its peer geographies where FinTech reigned among all industries, Enterprise Software was the highest funded industry aggregating $1.8M in funding over 2 deals. Over in MENA, the industry aggregated $35.7M with MENA’s Enterprise AI solutions startup Mozn raising $10M Series A.

Source: MAGNiTT (News Link)