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Sary

eCommerce & Marketplaces · Riyadh, Saudi Arabia · Founded 2018

Sary operates as a business-to-business (B2B) digital marketplace, established to streamline the procurement process for small and medium-sized enterprises (SMEs) across the Middle East, North Africa, and Pakistan (MENAP). The company was founded in April 2018 by Mohammed Aldossary and his co-founder Khaled Alsiari. Aldossary, a former General Manager at Careem with a background in computer engineering and organizational studies, was inspired to create Sary after a frustrating personal experience at a wholesale market. This experience highlighted the inefficiencies within the traditional supply chain, leading to the development of a platform to digitize and organize the fragmented wholesale sector. The company's core business revolves around its mobile and web applications that connect small businesses—such as mini-supermarkets, restaurants, cafes, and hotels—directly with a network of wholesalers, manufacturers, and distributors. This platform enables clients to efficiently procure inventory by offering a wide catalog of products, including fast-moving consumer goods (FMCG), groceries, cleaning supplies, and office essentials. Sary's platform provides features like price comparisons and order tracking to help businesses make informed purchasing decisions and streamline their operations. The business model primarily generates revenue through transaction fees charged on purchases made through the marketplace. A significant strategic development for the company occurred in April 2025, when Sary merged with ShopUp, a B2B commerce platform from Bangladesh, to form the SILQ Group. This merger, backed by a $110 million funding round, created the largest B2B commerce platform connecting the Gulf region with Emerging Asia. Following the merger, Mohammed Aldossary took on the role of CEO for the group's new financial services arm, Silq Financial, indicating a strategic move to diversify revenue streams towards embedded financing and other fintech products. Sary has demonstrated significant growth, backed by substantial funding and strategic acquisitions. Prior to the merger, Sary had raised a total of $112 million over four funding rounds, with a notable $75 million Series C round in December 2021 led by Sanabil Investments, a wholly-owned company by Saudi Arabia's Public Investment Fund (PIF). The company has actively expanded its geographical footprint. Key moves include the acquisition of Egyptian B2B platform Mowarrid in February 2022 and a significant investment in Pakistani B2B e-commerce platform Jugnu in March 2022. The combined entity, SILQ Group, has served over 600,000 retailers, hotels, restaurants, and cafes, processing over $5 billion in transactions and facilitating 100 million shipments. Keywords: B2B marketplace, procurement platform, FMCG supply chain, wholesale e-commerce, MENAP startups, Mohammed Aldossary, Khaled Alsiari, Silq Group, digital procurement, retail supply chain, B2B financing, Saudi Arabia tech, e-commerce logistics, Mowarrid acquisition, Jugnu investment, Sanabil Investments, VentureSouq, small business procurement, online wholesale, supply chain technology