RedCloud Holds Signing Ceremony for Saudi Joint Venture, Targeting $61Bn Market with December 2025 Launch
RIYADH, Oct. 31, 2025 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (Nasdaq: RCT) (“RedCloud” or the “Company”), the RedAI trading platform used by Fast Moving Consumer Goods (‘FMCG’) businesses, announced the outcome of the Future Investment Initiative (FII9) in Riyadh, Saudi Arabia, where it held a formal signing ceremony to seal its landmark joint venture agreement with Kayanat Holding, and held more than one hundred meetings as part of preparations for Saudi launch.
The formal signing ceremony, live on day three of the FII9 event, marked a pivotal milestone in RedCloud’s expansion into the Kingdom—aligning with Saudi Vision 2030 and the country’s strategic focus on digital transformation and supply chain modernization. The joint venture, RedCloud Arabia, will deploy RedAI’s algorithmic infrastructure to digitize and transform FMCG trade across the country.
The Company and Kayanat held joint meetings with key players within the Saudi FMCG Industry—who are believed to represent around 20% of the $61Bn market3—supporting a targeted launch date of December 2025.
“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. “Bloomberg built the intelligence foundation for financial markets. Google built it for the internet. Supply chains are next. The Kingdom of Saudi Arabia will be a pioneer and leader in solving this problem and we are delighted to work with Majid and his team on expanding RedCloud’s intelligence foundation for global trade, moving human guesswork and manual trading to algorithmic transformation.”
“For nearly 90 years, Saudi Arabia has powered the world through reliable and affordable energy supply chains. Today, that same advantage will fuel the world’s AI factories,” added Majid Alghaslan, Founder of Kayanat. “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 Arabia intends to focus on localizing RedAI’s capabilities to serve Saudi distributors, retailers, and manufacturers, enabling smarter purchasing decisions and addressing inventory shortfalls. The Company believes that traditional AI and LLMs train on public internet data, while RedCloud trains its models on private b2b supply chain data that can’t be accessed by the AI incumbents. The Company’s platform has already demonstrated success in high-growth markets such as Nigeria, Brazil, and South Africa, and is now poised to bring similar impact to the Middle East.
The announcement follows significant operational momentum for RedCloud: the Company more than doubled customer numbers year-over-year in the first half of 2025, launched a new partnership strategy for payments and financial services to maximize working capital across supply chains, and expanded its technology ecosystem through the NVIDIA Connect program alongside existing partnerships with AWS and Snowflake.
FII9 convened around 600 global leaders4 including heads of state, speakers and innovators under the theme “The Key to Prosperity: Unlocking New Frontiers of Growth.” RedCloud’s presence at the event underscored its commitment to building the intelligence foundation for the FMCG industry—from manufacturer to retailer—within Saudi Arabia, the Middle East, and beyond.
For more information or photographs from the JV signing at FII9, please use the media relations contact details below.
About RedCloud Holdings plc
RedCloud has developed and operates the RedAI trading platform (“RedAI”), 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 supply-chain businesses in high growth consumer markets.
Through RedCloud’s Platform, retailers are empowered by data driven market 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 and connect on .
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.
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Footnotes:
[1] $61Bn estimated Saudi FMCG Market in 2024, based on average of and .
[2] Estimated $8.7Bn Saudi Arabian Inventory Gap calculated from $2Tn Estimated Global Inventory Gap from , applied in proportion to Saudi Arabian FMCG Market2.
[3] The Company in active discussion with manufacturers and distributors estimated to represent 19.67% ($12Bn revenue) of Saudi FMCG Market value ($61Bn1)
[4] Attendees at FII9 Event
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