Riyadh, Saudi Arabia – October 2024 – Nana, a leading provider of digital shopping solutions in the Kingdom of Saudi Arabia, has announced the acquisition of the “Rasseed” application, a platform specializing in simplifying the purchase of branded and local gift cards. This strategic acquisition marks a significant step forward in Nana’s expansion plan, aligning with its mission to digitize the shopping experience across grocery stores and hypermarkets.
Rasseed, which collaborates with over 37 regional and international suppliers, offers a wide variety of gift cards, including telecom, gaming, music, and shopping cards. The app has quickly become a trusted solution for customers looking to purchase and recharge digital cards in Saudi Arabia. Nana’s acquisition of Rasseed will enable the integration of a “digital cards” category into the Nana app, allowing users to instantly receive and recharge various cards, further enhancing the seamless customer experience Nana is known for.
In addition to the integration, Nana plans to further develop and expand the services currently available on the Rasseed platform. The company aims to introduce new categories such as gift cards, discount coupons, and shopping vouchers, broadening its service offering and driving customer engagement.
Sami Alhelwah, Founder and CEO of Nana, commented on the acquisition: “Nana’s business model thrives on its flexibility and adaptability to modern trends and the rapid developments within the Saudi market. This deal opens new horizons for us in the digital cards market, one of the most promising and fast-growing sectors in the Kingdom, currently valued at over a billion SAR. It is a critical step towards meeting our profitability goals and ensuring long-term sustainability.”
Mohammed Alasta, Co-founder and CEO of Rasseed, expressed his excitement about the deal, stating, “Joining Nana marks a new beginning for Rasseed’s ambitious vision. This acquisition represents a significant leap forward in our ability to provide innovative digital services, furthering our commitment to delivering best-in-class solutions that enhance our customers’ experience. We are excited about the new opportunities this partnership brings.”
Through this acquisition, Nana continues to strengthen its leadership in the digital shopping solutions sector while positioning itself at the forefront of the fast-growing digital cards market in Saudi Arabia. The combination of Nana’s digital shopping expertise and Rasseed’s innovative gift card solutions sets the stage for continued growth and enhanced customer experiences.
About Nana:
Nana is a pioneering digital shopping platform in Saudi Arabia, offering customers a seamless grocery shopping experience through its app. By focusing on innovation and user experience, Nana has become a leader in digitizing the retail sector.
About Rasseed:
Rasseed is a leading digital platform in Saudi Arabia, specializing in gift card solutions across various sectors, including telecom, gaming, and shopping. Through its partnerships with top suppliers, Rasseed offers a wide range of digital cards to simplify purchases for consumers across the Kingdom.
