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ShopUp and Sary have merged to create SILQ Group, a B2B commerce platform connecting Gulf markets with emerging Asia, supported by a $110 million investment led by Sanabil Investments and Valar Ventures. The merger aims to enhance operational efficiency for over 600,000 businesses and facilitate integrated financial tools and logistics services. Afeef Zaman will serve as CEO of SILQ Group, while Mohammed Aldossary will lead SILQ Financial, focusing on expanding financing infrastructure and embedded financing capabilities.
ShopUp and Sary have merged to form SILQ, aiming to create the largest B2B commerce ecosystem in the Middle East and Emerging Asia, projected to reach $682 billion. Backed by major investors, SILQ will enhance financial services for SMEs and establish a regional headquarters in Qatar.Meanwhile, Saudi Arabia's STUCK? has raised a high six-figure pre-seed round to innovate Arabic content creation through AI, while UAE's Rentify has secured $500,000 to digitize the rental market with AI-driven solutions, enhancing tenant and landlord experiences.
Saudi B2B ecommerce platform Sary has merged with Bangladesh's ShopUp to create Silq Group, the largest B2B commerce platform in the Gulf and Emerging Asia, backed by a $110 million funding round led by Sanabil Investments and Valar Ventures. The merger aims to enhance access to products for retailers and manufacturers, with both brands continuing to operate under their names while leveraging combined capabilities. Silq plans to strengthen its presence in Qatar, addressing challenges faced by B2B businesses with an integrated platform for financial, logistics, and commerce services.
Mohammed Aldossary
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sary and shopup merge to create silq raising 110 million dollars
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