Merak Capital Invests $82.8M in Saudi-based SHIFT

Saudi-based Merak Capital has invested $82.8 million in the Saudi logistics and transportation startup SHIFT.

Why it Matters? The investment value reflects the company’s growth especially because it is one of the first investments in the company.

SHIFT was founded in Jedah in 2017 by Khalid AlSulaiman.
The startup provides logistics and transportation solutions; including ride-hailing, car rental, last-mile delivery and bus transportation.
SHIFT said it operates in 57 cities in Saudi Arabia.
It added that it has over 12,000 vehicles in its fleet.

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