Big news from the B2B world! Saudi Arabia’s Sary and Bangladesh’s ShopUp have officially merged to form a new powerhouse: SILQ Group. With a whopping $110 million in fresh investment, the newly formed group is on a mission to transform B2B commerce across emerging markets.
SILQ helps merge Two Powerhouses
Sary, founded in 2018, has been a game-changer in Saudi Arabia—connecting small businesses with manufacturers and financial service providers. Meanwhile, ShopUp, launched in 2016 in Bangladesh, helps neighborhood shops access products directly from mills and brands.
Now, these two giants are coming together under the SILQ banner to build the largest B2B commerce platform for fast-growing consumer markets across the Gulf and South Asia.
Backed by Global Investors
SILQ’s $110 million in funding includes both equity investments and a financing facility for SILQ Financial, the group’s dedicated financial services arm.
Lead investors include:
- Sanabil Investments (a PIF-owned firm)
- Valar Ventures (founded by Peter Thiel)
- Flourish Ventures
- MSA Capital
- Peak XV, Tiger Global, and many others
- New investor alert: Qatar Development Bank is also on board
By the Numbers
Together, Sary and ShopUp have:
- ✔️ Served 600,000+ retailers, cafes, hotels, and wholesalers
- ✔️ Processed $5 billion+ in transactions
- ✔️ Disbursed over $750 million in embedded financing
- ✔️ Enabled 100 million shipments
This impressive track record sets SILQ up to become the go-to B2B platform for businesses looking to streamline operations, access credit, and grow faster.
What’s Next for SILQ?
SILQ will have a strong presence in Qatar, expanding its services to support local SMEs. While Sary and ShopUp will continue operating under their own brands, they’ll share infrastructure and innovation from SILQ’s unified platform.
SILQ Financial will focus on creating powerful financial tools like embedded financing and POS services to empower businesses across both regions.
Leadership Speaks
🗣️ “We’re entering one of the world’s most exciting trade corridors, projected to hit $682 billion. This is just the beginning,” said Afeef Zaman, CEO of SILQ Group.
🗣️ “By merging our strengths, we’re not just expanding—we’re reimagining digital commerce in the Gulf and South Asia,” added Mohammed Aldossary, CEO of SILQ Financial.
A Bold Vision for the Region
Investors are betting big on SILQ’s vision. Sanabil Investments called it a “fully integrated solution for financial, logistics, and commerce services.” Meanwhile, Valar Ventures highlighted SILQ’s potential to “define a new commercial ecosystem” between the Gulf and South Asia.