Autobia Raises $12 Million in Series A Round Led by Artal Capital to Accelerate Its Expansion in Saudi Arabia

Autobia, a Saudi Arabia-based company specializing in business-to-business automotive spare parts trading, has closed a $12 million Series A funding round led by Artal Capital, with participation from AlJazira Capital and Wa’ed Ventures. The investment will support the company's expansion plans and further development of its operations across the Saudi market.

Autobia operates a business model that connects retailers with automotive spare parts suppliers, enabling retailers to purchase the parts they need and have them delivered directly to their businesses, with the option to pay in installments. The company also helps retailers manage payments from their customers by facilitating flexible payment arrangements through authorized buy-now-pay-later service providers in Saudi Arabia.

The newly raised capital will be directed toward expanding into additional regions across the Kingdom, strengthening logistics infrastructure, advancing dynamic pricing technologies, and broadening payment solutions. These priorities are intended to enhance the company's operational capabilities and support the continued development of its automotive spare parts supply model.

The Series A round follows Autobia's $2.5 million seed funding round in 2023, which was led by Sadu Financial and included participation from Wa’ed Ventures. The latest investment marks another funding milestone for the company as it continues to develop its services and pursue growth opportunities in Saudi Arabia's automotive spare parts market.

Founded in 2021 by Emad Daghreri and Ahmed Alawfi, Autobia focuses on serving businesses in the Kingdom's automotive aftermarket. By combining supplier access, delivery services, and flexible payment options, the company provides retailers with an integrated approach to sourcing spare parts and managing transactions with their customers.