Zid
“Can a Saudi e-commerce SaaS platform become the financial and operational OS for Middle East merchants by embedding payments, capital, and logistics into a single unified platform?”
Founded2017
HQRiyadh, Saudi Arabia
Total raised$58.9M
Latest roundSeries B, October 2022
IndustryVertical SaaS / E-commerce
The story
Founded in 2017 as an e-commerce store-builder for Saudi SMBs, Zid evolved from a pure SaaS storefront into a full-stack commerce operating system. After its Series B in 2022, it layered in embedded financial services—Zid Pay for payments, Zid Financing for merchant working capital—alongside logistics, POS, and the Mazeed consumer marketplace. The strategic move mirrors Shopify's playbook: use software to acquire merchants, then monetize with embedded finance and marketplace GMV.
Product timeline
2017
Zid founded in Saudi Arabia as an e-commerce enablement platform for merchants.· pivot
2019
Raised $2M Pre-Series A led by ElmVC to expand merchant platform.· banking
2021
Raised $7M Series A led by Global Ventures; merchant network grew to 5,300+ stores across 14 categories.· banking
2022
Raised $50M Series B to modernize the retail sector; platform exceeded 10B SAR in merchant GMV.· banking
2022
Launched Zid Pay, an integrated payment product enabling merchants to accept cards, Mada, and Apple Pay.· banking
2023
Launched Zid Financing (Tamweel), offering flexible funding for merchant business growth.· lending
2024
Launched Mazeed marketplace, enabling merchants to sell to 5M+ consumers; expanded to 13,500+ merchants.· acquisition
The stack
2 layers disclosed in Zid’s embedded-finance stack
Payments / PSP
Zid Pay (self-operated)
Lending
in the full report
Accounting gap: significant
2 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.