Riyadh – Sharikat Mubasher: Nana, a leading company in the digital shopping solutions sector, announced its acquisition of Raseed application.

This acquisition aligns with Nana’s strategic direction of digitizing the shopping experience in grocery stores, whilst supporting its expansion plan, which includes enhancing the scope of services and achieving a seamless customer experience, according to the company’s press release.

Nana aims to Leverage the combined capabilities and technical expertise of both companies by adding a “digital cards category” to the Nana application enabling users to receive and recharge cards within seconds.

 Additionally, the plan includes further developing the services currently available on the Raseed app and expanding its categories to include gift cards, discount coupons, and shopping vouchers.

Sami Alhelwah, Founder and CEO of Nana stated: “The uniqueness of Nana's business model lies in its flexibility and ability to adapt to modern trends and the rapid developments in the Saudi market. This deal will open up new horizons for us in the digital cards market, one of the most promising and growing markets in the Kingdom with a billion SAR. This investment is crucial in achieving our profitability targets and ensuring sustainability.”

Mohamed Alasta, Co-Founder and CEO of Raseed, commented: “Joining Nina represents a new Beginning for an ambitious vision and marks an important leap in our ability to provide innovative digital services. This supports our commitment to offering the best solutions that meet our customers’ needs, enhance their experience, and increase their enthusiasm for the opportunities this deal will bring.”

Raseed is focused on providing software solutions to simplify the purchase of branded and local gift cards in KSA, including telecom, gaming, music, shopping cards, and more through collaborations with over 37 regional and international suppliers.