RedCloud signs Saudi joint venture targeting $61 billion market

RedCloud Holdings plc (NASDAQ: RCT) announced it completed a formal signing ceremony for its joint venture agreement with Kayanat Holding during the Future Investment Initiative event in Riyadh, Saudi Arabia. The joint venture, called RedCloud Arabia, targets the Saudi fast-moving consumer goods market valued at $61 billion.

The company held meetings with industry players representing approximately 20% of the Saudi FMCG market and set a launch date of December 2025 for its RedAI trading platform in the Kingdom. RedCloud Arabia will focus on serving Saudi distributors, retailers, and manufacturers through algorithmic infrastructure for FMCG trade digitization.

"FII9 was a catalytic event for RedCloud, where we heard from industry leaders to heads of state who shared our concern for global trading challenges including spiraling consumer prices and the waste of critical resources," said Justin Floyd, CEO and Founder of RedCloud.

Majid Alghaslan, Founder of Kayanat, stated: "Our collaboration with RedCloud reflects Vision 2030's ambition to transform the Kingdom into a global hub where technology, data, and intelligence redefine trade—building predictive, autonomous, and sustainable economies of the future."

RedCloud reported more than doubling its customer numbers year-over-year in the first half of 2025. The company operates its RedAI trading platform in markets including Nigeria, Brazil, and South Africa. The platform uses artificial intelligence to help retailers make business-to-business purchasing and inventory decisions.

The joint venture aligns with Saudi Vision 2030 and the country's focus on digital transformation and supply chain modernization. RedCloud's platform trains its models on private business-to-business supply chain data rather than public internet data used by traditional AI systems.

You May Also Be Interested In

• XCF Global delays stockholder meeting on three-way business combination
• Glucotrack prices $3.1M public offering at $2.04 per share
• BayFirst Financial elects twelve directors at annual shareholder meeting