- Dubai-based e-commerce startup Splyr Global has received a $500,000 investment from Quality & Saving Center, a hypermarket operator.
Splyr Global is a B2B marketplace connecting small and medium-sized businesses with suppliers and wholesalers using technology to eliminate inefficiencies in the supply chain to help the SMEs grow their business.
The new funding will help Splyr accelerate its growth in new markets like Iraq and Saudi Arabia. It will also use it to enhance its platform and introduce new features.
Quality & Saving Center has announced a $500,000 investment in the Dubai-based e-commerce startup Splyr Global.
Quality & Saving Center operates a chain of hypermarkets, retail and wholesale companies, headquartered in Muscat, Oman. It was founded in 2006 and operates more than eight hypermarkets. Q&S Center has over 600 employees of various nationalities. The company has many subsidiaries in Bahrain and Africa.
Splyr Global is a Dubai-based e-commerce startup and wholesale platform founded and led by a team of seasoned business and technology professionals who have worked at some of the top companies within their sectors. Splyr.com is a B2B marketplace connecting small and medium businesses with suppliers and wholesalers and produces a seamless and efficient supply chain process.
The impressive growth of Splyr during the partnership with Q&S proved effective in increasing their sales during the peak of the COVID19 pandemic, which led to Q&S’ current investment as a testament to the vision of its founding team. Splyr has grown from 5 to 25 employees over the past 6 months and the company managed to onboard over 1500 suppliers and 26,000 SKUs serving thousands of customers throughout the region.
Q&S General Manager, Salah Alrawi said: “Q&S believes the future of retail is both online and offline, and we couldn't be happier to invest in such an amazing team and product.”
This represents a great success story of how a technology startup has convinced a traditional group to shift its gears and invest in technology.
Ahmed Subhi, Managing Partner at Splyr stated: “This is proof that e-commerce isn’t a threat to traditional businesses and that cooperation will lead to a bright future for both traditional and digital retail and wholesale businesses, and most importantly, the consumer.”
He also said that: “his investment will help Splyr accelerate its growth in new markets like Iraq and Saudi Arabia and other countries.” The startup is planning to use the fund to enhance its platform and introduce new features, establish a physical presence in the new markets and hire local resources.
Splyr Global is using technology to eliminate inefficiencies in the supply chain and help small and medium-sized companies in growing their business. The company facilitates the procurement of goods and saves businesses the time and cost of travel to manufacturers and wholesalers and brings supplies to their store through a big network of over 208 logistic and payment partners.