Top Backer of Dubai App Fetchr Warns Startup Faces Liquidation

Dubai courier app Fetchr, once among the Middle East’s most promising startups, is considering filing for liquidation after becoming “insolvent” because of a disputed tax bill in Saudi Arabia, according to one of its top investors.

It would be Fetchr’s second brush with bankruptcy after the logistics firm nearly went under around the end of 2019 but staved off collapse through an emergency funding package and a turnaround plan that involved expanding in Saudi Arabia. Fetchr was valued at almost $300 million in a 2017 fundraising round.

Dubai’s Fetchr to Focus on Saudi Arabia After Raising New Funds

Fetchr ...