Riyadh, Saudi Arabia, 20 March, 2024 – AstroLabs, the leading business expansion platform in the Gulf, is proud to announce the launch of Cash My Stock in Saudi Arabia. Cash My Stock, a subsidiary of Inoovate Holding LTD, is set to transform the B2B e-commerce landscape in the Kingdom through its state-of-the-art digital trading platform focused on helping companies monetize excess and aging inventory. It is specifically designed to meet the distinctive expansion and growth needs of retail, wholesale and distribution firms across the EMEA region.
This strategic expansion comes at a time when the local e-commerce sector is experiencing dynamic growth, driving new avenues of business expansion opportunities and fostering a conducive operating environment under the ambitious Vision 2030.
Cash My Stock’s innovative platform is engineered to set a new industry benchmark by offering automated, transparent, and business-centric cross-border trading solutions. The company’s entry into the Saudi market is a testament to its commitment to leveraging digital advancements and responding to the burgeoning demand for specialized B2B e-commerce services.
“KSA’s strategic location as a gateway to the Middle East and its status as one of the largest economies in the region make it an attractive market for B2B e-commerce. Expanding into KSA offers Saudi companies the opportunity to expand market reach into the MEA region and help companies improve tied-up working capital in slow-moving or aging inventory,” stated Mohamed Issa, Co-Founder and CEO of Cash My Stock. “Our platform is designed to empower Saudi businesses, enabling them to unlock new growth avenues and streamline their inventory management through our cutting-edge digital solutions.”
Further commenting on the expansion of Cash My Stock, Alex Nicholls, director of expansion at AstroLabs commented: “Our collaboration with Cash My Stock is a testament to AstroLabs’ dedication to building a robust e-commerce sector in Saudi Arabia. This sector is not just rapidly evolving; it’s a cornerstone of the Kingdom’s Vision 2030, aiming to diversify the economy and accelerate digital transformation. By facilitating Cash My Stock’s entry into this vibrant market, we are contributing to a future where e-commerce drives sustainable economic growth, aligns with global technological trends, and reinforces Saudi Arabia’s position as a digital leader in the region.”
In the context of Saudi Arabia’s Vision 2030, the government and private sector’s proactive drive to collaborate with technology innovators creates a fertile ecosystem for companies like Cash My Stock.
As Cash My Stock commences its operations in Saudi Arabia, the platform is poised to become an instrumental player in revolutionizing the B2B e-commerce sector, offering unprecedented efficiency, transparency, and connectivity to businesses across the region.
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For media inquiries please contact:
- Lara Fakih, Director of Communications at AstroLabs (lara@astrolabs.com)
- Mawada Al Azhari, Marketing Coordinator at CashMySTock (m.alazhari@cashmystock.com)
About AstroLabs:
AstroLabs is the leading business expansion platform in the Gulf, propelling high-growth companies across strategic industries. With a decade of supporting economic development in emerging markets, AstroLabs is the partner of choice for over 1,500 companies that have expanded across the region, engaging a vibrant network of 10,000+ market leaders in the UAE and KSA. Bridging key gaps in fundamental industries in the Gulf, AstroLabs designs sector-focused and outcome-driven programs in partnership with government entities and the private sector. AstroLabs is committed to building the future of key sectors, driving market access, and contributing to regional visions like Saudi Vision 2030.
About Cash My Stock
Cash My Stock is a subsidiary of Inoovate Holding LTD, a pioneering digital B2B trading platform for liquidation in the EMEA region, the company is set to redefine the industry standards by providing automated, transparent, and business-friendly cross-border trading services.