LONDON, Sept. 02, 2025 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (Nasdaq: RCT) (“RedCloud” or the “Company”), today 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.
“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."
About RedCloud Holdings plc
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. For more information about RedCloud and its Platform, please visit www.redcloudtechnology.com and connect on LinkedIn.
About Kayanat
Kayanat Holding, led by Majid Alghaslan, is a family office, and a visionary enterprise driven by a quest for wisdom, innovation, and stewardship over nature and technology. Guided by values of integrity, knowledge, and harmony, we invest in advanced fields such as AI, autonomous systems, energy, space, security, and sustainability, aspiring to harness these tools to serve humanity and honor the world around us.
In alignment with Saudi Vision 2030, Kayanat is dedicated to building local expertise and fostering a self-sustaining economy through the localization of products and services. We seek to inspire growth, create meaningful opportunities, and ensure our ventures leave a positive, lasting impact on society and the environment—contributing to a legacy of progress, stewardship, and enduring prosperity.
Forward-Looking Statements
The information in this press release may include forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including, but not limited to, our partnership with Kayanat, the launch of our operations in KSA and RedCloud Arabia’s ability to perform its intended operations. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in RedCloud’s described in “Cautionary Note Regarding Forward-Looking Statements,” “Item 3. Key Information – D. Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in RedCloud’s Annual Report on Form 20-F for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission (the “SEC”) on May 16, 2025, as well as other documents filed by the Company with the SEC. RedCloud undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Information contained on, or that can be accessed through, the Company's website or any other website or any social media is expressly not incorporated by reference into and is not a part of this press release.
Footnotes:
- See associated research here: https://aviaanaccounting.com/fmcg-market-research-services-in-ksa/
- Note that digital payments, lending and trade finance services are subject to future partnerships with Saudi financial services providers.
Contacts:
Investor Relations
Ryan Flanagan
Investor.relations@redcloudtechnology.com
Media Relations
James McCarthy
media@redcloudtechnology.com
