Less than a decade after masterminding the launch of on-demand delivery app Mrsool, Ayman Alsanad is expanding the business into new markets and preparing the startup for one of Saudi Arabia’s most eagerly anticipated IPOs.
In 2015, as food delivery and ride-sharing services proliferated around the world, Saudi Arabian entrepreneurs Ayman Alsanad and Naif Al-Simiri realized that smartphones could do much more than connect passengers to cab drivers or hungry diners to local restaurants.
They launched an app, Mrsool, which crowd-sources couriers for virtually any errand, whether delivering spare parts, documents, or medicine. Less than a decade later, Mrsool has become one of the country’s fastest-growing startups. Consumers can post almost any sort of request on the platform, where freelance drivers put in competing bids for the job.
“Our vision has always been for Mrsool to be like a friend when you’re in need. Mrsool is always ready to help people get the products and services they need, right when they need them most,” Ayman says.
“With a crowd-sourced delivery model, Mrsool lets customers get anything they want, when they want it”
Ayman Alsanad, CEO and cofounder, Mrsool
The Mrsool name is derived from the Arabic root used for concepts such as sending, messaging, and delegating. Launched first in Saudi Arabia, Mrsool allows people to carry out routine purchases such as buying dinner online or ordering medicine from the pharmacy. It also enables more urgent services: on multiple occasions, couriers have rushed passports to forgetful travelers, delivered spare keys to people locked out of their homes or cars, and provided fresh supplies of milk for newborn babies.
Unlike competing apps, Mrsool allows consumers to chat directly with available couriers and negotiate a price for delivery. “Our users have a lot of freedom to describe the service they need,” Ayman explains. “Couriers can bid with the price they see fit. Our crowd-sourced model also means that we can offer delivery to areas that might not be accessible by other providers. We make it easy to match couriers looking for an extra-flexible source of income with customers who need on-demand help.”
Priding itself on providing fast and reliable delivery services, Mrsool is also helping local restaurants and businesses reach a wider market and grow their customer base. Ayman says the app is a cost-effective solution for companies that want to offer delivery services but do not have the resources to manage them in-house.
Currently present in more than 100 cities in three countries, and with over 500,000 couriers on its books, the startup has won the backing of major regional investors in several funding rounds. Ayman is currently closing a new round that will help Mrsool expand its presence in the region, offer additional payment and e-commerce services, and progress rapidly towards an initial public offering (IPO).
“We are continuing to expand our services and grow our user base,” he says. “This will accelerate our revenue growth and put Mrsool on the road to going public in two to three years.”
Why do you think Mrsool has grown so rapidly?
When we started Mrsool our hope was that we would put our users in touch with people who could go the extra mile to help them. Our vision was to build something that people in the Middle East would find useful and relevant, and we have succeeded in that. We are now one of the largest freelance logistics businesses in the region and we have made a massive impact on the lives of millions of people in Saudi Arabia and other countries.
Our continued growth and popularity demonstrate the demand for innovative, convenient, and reliable delivery services in the region. Our app has been downloaded millions of times. The impact that Mrsool is having on people’s lives has driven our growth and will take it to a new level.
How large is the appetite for on-demand delivery services in the region?
Saudi Arabia is a large and growing market for on-demand delivery services, with a population of over 34 million people and strong demand for convenient and fast delivery options. With the continued growth of the market in Saudi Arabia, Mrsool is well positioned to expand its operations and continue its success in the country.
The growth of the ecosystem and of the Saudi economy opens opportunities for us. For any business anywhere in the world, having a large home market is very important. For example, the US is the largest market for most companies in Silicon Valley.
How will Mrsool expand in the future?
For all technology-based businesses, building scale is critical. We are planning two forms of expansion. The first is to increase the number of services that we offer to our user base, including ordinary people and our business customers. We want to add new features to the app, such as allowing new forms of payment. The second is that we’re also targeting geographic expansion. We are thinking about developing further into neighboring countries in the Gulf Cooperation Council (GCC), such as Kuwait, Qatar, and Oman. We are already present in Bahrain. We want to replicate the success that we have had in Saudi Arabia and we are very encouraged by the response that we have seen from users in other countries.
How is the startup ecosystem in Saudi Arabia developing?
The country is becoming a technology hub and talented people are coming here from across the region. We’ve seen an increased interest from venture capitalists and investors are very interested in supporting technology companies. In 2020, we completed a major funding round and we are currently closing a new round.
We’re excited by the opportunity for a successful IPO in the next few years
Published as branded content in WIRED magazine.
