CAIRO: The burgeoning expatriate community and digital surge in Saudi Arabia have beckoned UAE-based travel tech startup Tumodo to expand its horizons.
In an interview with Arab News, Vladimir Kokorin, co-founder of the firm, unveiled the company’s ambitious strategy to venture into the Saudi market, buoyed by a successful $35 million raised in its latest funding round.
He said: “2024 will be the year to set up the foundation for accelerated growth in the upcoming years. Our target is to reach $100 million in sales by early 2026. By the end of 2025, we aim to have an annualized turnover of $123 million.”
Kokorin added: “We also plan to have a strong presence in five major cities including Jeddah, Riyadh, Dammam, Makkah, and Medina with about 800 clients nationwide by the end of 2025.”
By the end of April, Tumodo aims to be fully operational in Saudi Arabia, marking a significant milestone in its expansion journey.
Amid its $35 million pre-seed round, Tumodo…