RedCloud Holdings plc announces the signing of a Joint Venture with Kayanat, a family office in the Kingdom of Saudi Arabia (KSA), with the intention to transform the country’s estimated $60Bn1 market for Fast Moving Consumer Goods (FMCG).
The partnership aligns with Saudi Arabia’s Vision 2030 economic transformation goals, using smart AI-powered trading technology within the RedAI platform to unlock efficient digital exchange of FMCG products at scale. This provides RedCloud with accelerated market entry and access to one of the fastest-growing markets in the Middle East and North Africa (MENA) region. Businesses within the Saudi FMCG supply chain will have access to the benefits of technology and AI, with competitive insights to make daily business decisions smarter, plus easier digital payments, lending and finance to streamline trade and business growth2.
RedCloud Arabia, will be jointly owned by RedCloud Holdings plc and Kayanat – a leading Saudi private equity investor – and headquartered in Riyadh, with offices located in major cities across the Kingdom, including Dammam and Jeddah. RedCloud Arabia is planning to launch operations in the fourth quarter of 2025. Initially this will include deployment of the RedAI trading platform, Red101 for retailers and the TradeX bulk trading program. Over time the Company believes RedCloud Arabia will be able to leverage RedCloud’s future global developments in the use of AI and associated supply chain models.
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“We are very excited about entering this joint venture with Kayanat to support Saudi Arabia’s AI and economic transformation goals with our powerful digital trading exchange for local supply chains, so that supply of inventory is tuned to meet market demand,” said Justin Floyd, CEO & Co-Founder at RedCloud. “We believe this partnership and approach comes at a great point in our growth journey as a Nasdaq listed public company – enabling us to quickly scale our technology across the world in many countries such as KSA, where AI powered trading exchange technology, similar to that used on Wall Street, can transform outcomes for retailers FMCGs and Distributors. We anticipate further announcements in the coming weeks and months.”
Majid Alghaslan, Founder of Kayanat Holding, added, “This joint venture introduces world-class AI-powered trading technology to bring greater transparency, resilience, and efficiency to supply chains—empowering retailers with better access and choice, while giving brands and distributors the insights they need to grow and compete. Together, RedCloud and Kayanat will also be instrumental in advancing the ‘Saudi Made’ initiative, enabling local brands not only to scale within the Kingdom but also to export confidently to global markets as part of Saudi Arabia’s wider economic transformation agenda.”
RedCloud has developed and operates the RedAI trading platform (the “Platform”), that facilitates the trading of everyday consumer supplies of fast-moving consumer goods (“FMCG”) products across business supply chains. RedCloud believes its Platform solves a decades old problem of how to unlock and enable access to key purchase and sales data between brands, distributors and retailers in high growth consumer markets.
Through RedAI, retailers are enabled to use data driven insights backed by artificial intelligence (“AI”) to help make faster and easier business-to-business (“B2B”) purchases and inventory decisions from brands and distributors by breaking down complex purchasing behaviors of large product inventory catalogues.
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