SILQ Group

Active

Formerly Sary

A B2B e-commerce marketplace connecting small retailers, restaurants and cafes in Saudi Arabia with wholesalers, FMCG brands and embedded trade financing.

Riyadh, Saudi ArabiaFounded 2018

FintechE-Commerce

Growth

Website

Sary is a Saudi B2B e-commerce marketplace founded in 2018 by Mohammed Aldossary and Khaled Alsiari, connecting small retailers, restaurants and cafes with wholesalers, FMCG brands and embedded trade financing. In April 2025, Sary merged with Bangladesh's ShopUp to form SILQ Group, a $110M-backed combined B2B platform led by Sanabil Investments (Saudi PIF) and Valar Ventures, with Qatar Development Bank joining as a new investor; SILQ Group has announced plans for a regional headquarters in Qatar to extend into SME markets there, but per the companies' own statements the Sary brand continues operating unchanged in its home market of Saudi Arabia, with founder Mohammed Aldossary now also leading the group's SILQ Financial arm.

Founders

Mohammed Aldossary

Founder & CEO (Sary); now also CEO, SILQ Financial

Khaled Alsiari

Co-Founder

Funding Rounds

Series D+Apr 2025

$110M

Lead: Sanabil Investments and Valar Ventures

Investors: Sanabil Investments, Valar Ventures, Qatar Development Bank, Flourish Ventures, VSQ, MSA Capital, Rocketship VC, STV, Wafra Investment, Peak XV, Prosus, Tiger Global, Endeavor Catalyst, Raed Ventures

Series CDec 2021

$75M

Lead: Sanabil Investments

Investors: Sanabil Investments, Wafra International Investment Company, Endeavor Catalyst, STV, MSA Capital, Rocketship.vc, VentureSouq, Raed Ventures

SR 281M. Wamda states total raised reached $112M with this round. Also: https://www.wamda.com/2021/12/sary-raises-75-million-series-c https://www.arabnews.com/node/1989506/business-economy https://magnitt.com/news/sary-75m-series-c-53100 Confidence: confirmed (round 13, Raed Ventures).

Series BMay 2021

$30.5M

Lead: VentureSouq

Investors: VentureSouq, Rocketship.vc, STV, Raed Ventures, MSA Capital, Derayah Ventures

Brought total raised to 'over $37M' per MENAbytes. Also: https://www.menabytes.com/sary-series-b/ https://www.arabnews.com/node/1855136/business-economy Confidence: confirmed (round 13, Wamda).

Series AApr 2020

$6.6M

Lead: Raed Ventures

Investors: Raed Ventures, MSA Capital, Derayah Ventures

Also: https://www.wamda.com/2020/04/sary-secures-66-million https://www.menabytes.com/sary-series-a/ https://magnitt.com/news/saudi-arabias-sary-raises-seriesA-funding-51699 Confidence: confirmed (round 13, Raed Ventures).

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