- UAE-based store management platform Dukkantek, has expanded to six additional markets besides the UAE, including Kuwait, Qatar, Bahrain, Saudi Arabia, Oman, and Turkey, after raising a Seed round of $5.2 million in March.
- Founded in January 2021 by Ali Alsayegh, Sanad Yaghi and Shadi Joulani, Dukkantek offers in-store boxes fitted with a POS system that can be accessed online, helping merchants to keep track of transactions, monitor sales, calculate VAT, generate reports, and calculate profit margin.
- The funding has further assisted Dukkantek’s plans to improve its technology stack, expanded the platform's reach, and served its ever-growing merchant base.
- The round was led by Global Founders Capital, with participation from Colle Capital Partners, Wamda, Plug and Play, and Comma Capital, alongside other investors including Nowais Capital, Annex Investments, and AMK Investment Office.
In response to the increase in demand, and after a recent influx of $5.2 million in funding, Dukkantek, the UAE’s first revolutionary store management platform, has officially announced its expansion into six additional markets; Kuwait, Qatar, Bahrain, Saudi Arabia, Oman, and Turkey. Not only has the funding facilitated Dukkantek’s plans to expand efficiently, but it further assisted the improvement of its technology stack, expanded the platform's reach, and served its ever-growing merchant base.
Founded in January 2021 by three co-founders who jointly witnessed a gap in the market to provide small and medium-sized merchants with functional technology, Dukkantek was designed to fully enable traditional merchants and dark stores to compete in the evolving digital world equally. Co-Founder of Dukkantek, Ali Al Sayegh, comments on the reasoning behind the expansion, “The decision to expand as quickly as we did was based on two main aspects; we had identified traditional and community-based merchants operating in these markets that were underserviced and had reached out to them offering our solution and genuine support. We had also received several requests from a variety of merchants seeking our solution directly from the UAE. We then decided to respond to the inbound interest received and swiftly set up in the six countries to service them efficiently and effectively. We have already sold our solution to over 1,000 merchants across these new markets.”
With the ever-growing demand for cashless payments, the platform’s cloud-hosted software allows business owners to keep track of transactions, monitor sales, calculate VAT, generate reports, and calculate profit margin. Additionally, its unique Cloud Inventory Management (IM) helps track stock, manage stock value, organize the inventory, manage fast-moving products, and generate reports for analysis. The POS system and its business offering will further allow merchants to facilitate a magnitude of sales, streamline its data and advance its internal systems cost-effectively.
Ali Al Sayegh further comments, “Our fast expansion in the broader GCC market is a testament to the strength of our team and product. We are now democratizing digital commerce across the GCC and will be doing it on a global scale in a few years. Dukkantek is striving for a bright future, and this expansion is only the beginning, with further market entry plans in development. The platform will continue to support small and medium merchants, ensuring that these businesses are continuously provided with the opportunity to operate in an ever-evolving world.”
Through the use of its advanced in-store boxes fitted with a seamless Point-of-Sales (POS) system that can be accessed online from anywhere in the world, Dukkantek’s UAE merchants have fully adopted the solution and have welcomed the newfound efficiency.