Wadi – a year on since Series A funding

Wadi, the leading eCommerce site in KSA and UAE, marks its first anniversary since receiving $67m Series A funding. The online-oasis reports on key statistics, 100% year-on-year growth, what 2017 holds for the business being at the border of an operational break-even.

Last year, Wadi was the largest Series A round among tech start-ups in the Middle East and had seen 100% growth since the funding was received. A well-strategized plan was paramount when distributing the business’s funding, and like any venture, it was given in tranches. Wadi’s biggest allocation was distributed into creating four pillars – branding, assortment, technology, and operations infrastructure that make the brand well recognized and highly recommended.

Wadi’s founders distributed the funding across the key pillars that helped elevate the business to become one of the most reliable eCommerce sites in the region today. The core of the business is to deliver products at 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 allowed capacity to ship increase by 120% and twice as fast, as well as building technology to create an effective system that works in harmony with its self-owned last-mile delivery service across more than 15 cities in KSA. Besides, 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 business’s fundamentals to position itself well against other competitive eCommerce sites. In 2016 the company grew 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% of customers were satisfied, with more than 80% of them being delighted. To increase these numbers in 2017, Wadi introduces a 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 creating even more variety for their customer. Wadi is well known for its offerings on exclusive products, with 2016’s highlight that Wadi was the first online retailer to stock the iPhone 7 in KSA and UAE.

Following a successful year in 2016, sellers trust Wadi to handle large volumes as 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 Al Nasser football team’s sponsorship 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.

“2016 was an exciting year for Wadi as we were able to plant ourselves on the eCommerce map, delivering exceptional deals across a wide range of products with customer satisfaction along the way. 2017 holds exciting plans that will inevitably push the site further, creating more customer traffic. This was all able to happen with our Series A funding and a well-thought-out, strategic business plan.” Comments Kanwal Sarfraz, one of Wadi.com’s founders.