{"id":95907,"date":"2025-04-10T00:00:00","date_gmt":"2025-04-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/"},"modified":"2025-04-10T00:00:00","modified_gmt":"2025-04-10T00:00:00","slug":"sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/10\/sary-merges-with-bangladeshs-shopup-to-launch-new-b2b-platform-raising-usd-110-mn\/","title":{"rendered":"Sary merges with Bangladesh\u2019s ShopUp to launch new B2B platform, raising USD 110 mn"},"content":{"rendered":"

Sary, ShopUp<\/strong> merge to launch new B2B<\/strong> platform:<\/strong> Homegrown ecommerce platform Sary<\/a> and Bangladesh\u2019s ShopUp<\/a> merged to launch the Silq Group, a cross-border B2B platform targeting the Gulf and emerging Asian markets, according to a press release<\/a>.<\/p>\n

Who are the investors? <\/strong>The merger is backed by a USD 110 mn funding round led by PIF-backed Sanabil Investment<\/a> and US-based Valar Ventures<\/a>. Investors include Flourish Ventures<\/a>, VSQ<\/a>, MSA Capital<\/a>, Rocketship VC<\/a>, Saudi Tech Ventures<\/a>, Wafra Investment<\/a>, Peak XV, Prosus, Tiger Global, Endeavor Catalyst, and Raed Ventures<\/a>, as well as new investor Qatar Development Bank<\/a>.<\/p>\n

The blueprint:<\/strong> The new entity will combine the infrastructure, logistics, and financial services of ShopUp and Sary under a joint operating model, while each brand continues to serve its local market. The group will also incorporate Silq Financial to offer embedded financial services, POS infrastructure, and cross-border trade enablement across the network.<\/p>\n

The leadership:<\/strong> ShopUp\u2019s founder and CEO Afeef Zaman (LinkedIn<\/a>) will assume the role of Silq Group\u2019s CEO, while Sary\u2019s founder and CEO Mohammed Aldossary (LinkedIn<\/a>) will serve as Silq Financial\u2019s CEO.<\/p>\n

Looking Forward:<\/strong> Silq aims to focus on raising income at the group level while trying to catch some wind from the impact of US tariffs<\/a> as exporters seek out alternative markets, Aldossary told Bloomberg<\/a>. The group also plans to set up presence Qatar, broadening its offerings to Qatari SMEs, the press release read.<\/p>\n

A new IPO in sight: <\/strong>\u201cWe think the Gulf market is very exciting when it comes to IPOs \u2014 especially the Saudi market,\u201d Zaman told the financial publication, pointing to 2027 as a potential year for market debut.<\/p>\n","protected":false},"excerpt":{"rendered":"

The round was co-led by Sanabil Investments and US-based Valar Ventures<\/p>\n","protected":false},"author":1,"featured_media":95908,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4157],"tags":[1541,10,610,4156,5],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ecommerce","tag-ecommerce","tag-enterpriseam-ksa","tag-sanabil-investments","tag-silq-group","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"3ac8d1ad-a70a-491e-bf41-ee65b1ff160c","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/539.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sary merges with Bangladesh\u2019s ShopUp to launch new B2B platform","related_issue":[95897],"teaser":"The round was co-led by Sanabil Investments and US-based Valar Ventures","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.54ed2481-78d3-4e6f-b2c4-5ed0e5ea3feb.mp3"},"yoast_head":"\nSary merges with Bangladesh\u2019s ShopUp to launch new B2B platform, raising USD 110 mn - 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