Riyadh – Sharikat Mubasher: Saudi B2B marketplace Sary has merged with Bangladesh’s ShopUp to launch SILQ Group, creating the largest B2B commerce platform connecting the Gulf and Emerging Asia.
The merger is backed by $110 million in funding led by Sanabil Investments, a firm owned by Saudi Arabia’s Public Investment Fund (PIF), and Valar Ventures, according to a recent press release.
SILQ combines commerce, logistics, and financial services, having already processed over $5 billion in transactions and served 600,000+ businesses. Mohammed Aldossary, Sary’s co-founder, will lead SILQ Financial, the group’s finance arm, which aims to scale embedded lending and POS services.
The group will maintain both Sary and ShopUp brand operations while leveraging a shared infrastructure. SILQ plans regional expansion, including a new base in Qatar, as it eyes a $682 billion trade corridor connecting the Gulf to South Asia.
