Splyr Global, a Dubai startup that calls itself “the largest wholesale platform in (the) Middle East and North Africa,” has landed a $500,000 investment, the investor announced.
The funds for the B2B wholesaler came from Quality & Saving Center.
Splyr was “founded and led by a team of seasoned business and technology professionals who have worked at some of the top companies within their sectors,” the announcement states.
The investor stated that Splyr “produces a seamless and efficient supply chain process. The impressive growth of Splyr during the partnership with Q&S proved effective in increasing our sales during the peak of the COVID19 pandemic.”
Quality & Savings Center General Manager Salah Alrawi said in a prepared statement: “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.”
Splyr has grown to 25 employees from five over the past six months, according to the investor, and more than 1,500 suppliers and 26,000 SKUs.
Quality & Savings Center was founded in 2006 and operates in eight of what the company calls “hypermarkets,” according to the company’s marketing materials. The Muscat, Oman-based company states it has 600 employees and “many subsidiaries in Bahrain and Africa.”
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 eCommerce 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 further stated: “This investment will help Splyr accelerate its growth in new markets like Iraq and Saudi Arabia and other countries.”
Despite the B2B emphasis, the homepage of Splyr’s website lists goods ranging from Dell notebook computers to beverages to toys for children.
PYMNTS reported in February that the COVID-19 pandemic has led to an increase in the use of digital platforms for B2B deals.
See the article: How The Pandemic Is Pushing Global B2B Firms To eCommerce Channels, Marketplaces
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