Riyadh, Saudi Arabia – April 2025
Saudi FoodTech proudly congratulates Sary, a leading Saudi B2B marketplace, and ShopUp, Bangladesh’s largest full-stack commerce platform, on their strategic merger to form SILQ Group—a transformative leap forward for regional trade, technology, and financial services.
Backed by a $110 million round led by Sanabil Investments (a PIF company) and Valar Ventures, the merger marks a powerful new alliance that strengthens the Gulf-South Asia trade corridor, a corridor projected to reach $682 billion.
Together, Sary and ShopUp have empowered over 600,000 retailers, restaurants, and wholesalers, facilitated over $5 billion in transactions, and disbursed $750 million+ in embedded financing—redefining B2B commerce at scale.
Under the new structure:
Afeef Zaman, Founder & CEO of ShopUp, becomes CEO of SILQ Group
Mohammed Aldossary, Co-founder & CEO of Sary, will lead SILQ Financial, the group’s financial services arm
“This merger reflects the strength of Saudi-born ventures and our potential to lead global innovation in trade and technology,” said Mohammed Alqurashi, spokesperson for Saudi FoodTech.
“It’s not just a milestone for Sary or ShopUp—it’s a sign that the Kingdom’s ecosystem is maturing, and that Saudi entrepreneurs are becoming central to shaping the future of regional commerce and food logistics.”
At Saudi FoodTech, we are committed to accelerating high-impact ventures. This merger is a powerful reminder of what’s possible when Saudi founders lead with vision, scale, and global ambition.
For media inquiries or collaboration opportunities:
📧 [email protected]
🌐 www.saudifoodtech.com
