Egypt-based quick commerce (q-commerce) platform Rabbit expects to invest $60 million in Saudi Arabia in the next two years following the granting of its licence to operate in the kingdom.
The company, which raised $11 million for its pre-seed funding round last year, said it will create 700 jobs in its operations in the kingdom.
Ahmad Yousry, co-founder and CEO of Rabbit said: “Saudi Arabia has created one of the most progressive startup ecosystems globally thanks to the outstanding efforts by the government in recent years.
“This kind of opportunity and infrastructure come together to unlock limitless potential for innovative companies like Rabbit.”
