Led by Omani hypermarket operator, Quality & Savings Center, the deal affirms that e-commerce and traditional businesses can work hand-in-hand.
Dubai-based e-commerce startup, Splyr Global, a business-to-business (B2B) marketplace connecting small and medium-sized enterprises (SMEs) with wholesale suppliers, has received $500,000 in investments from hypermarket operator, Quality & Savings Center (Q&S).
Through enabling the procurement of goods and bringing supplies through its network of over 208 logistic and payment parts, Splyr Global’s operations are designed to combat inefficiencies within the supply chain to facilitate the growth of SMEs. The startup has shown impressive recent growth, onboarding over 1,500 suppliers and 26,000 stock keeping units (SKUs), supporting its ability to serve thousands of customers across the region.
Its partnership with Q&S has proved valuable too, helping the startup expand the size its team from 5 to 25 employees over the past six months.
Muscat-based Q&S, meanwhile, operates retail and wholesale companies. Founded in 2006, the company boasts 8 hypermarkets under its wing, with subsidiaries in Bahrain and across African countries.
The company’s General Manager, Salah Alrawi affirmed that “Q&S believes the future of retail is both online and offline.”
Meanwhile, Splyr’s Managing Partner, Ahmed Subhi, reiterated Alrawi’s comments, saying that “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.”
According to Subhi, Splyr will direct the new funds to accelerate its growth in new markets, namely Iraq and Saudi Arabia, as well as other yet-unnamed countries. It will also use the funds for enhancing its platform to include new features, as well as to establish a physical presence to complement its expansion into new markets.