Back to the complete issue
Wednesday, 2 March 2022

Saudi’s Sary acquires Egyptian marketplace Mowarrid

Saudi B2B wholesale marketplace Sary has acquired Egyptian e-commerce platform Mowarrid for an undisclosed amount, in the first step of Sary’s plan to expand into MENAP markets, the companies announced in a statement (pdf) yesterday.

About Mowarrid: Founded in 2018, the company operates in B2B food and grocery, offering more than 1k products to more than 10k retailers, according to the statement.

About Sary: The Saudi platform connects MSME F&B businesses with big wholesale and FMCG retailers. Sary has raised a total of USD 112 mn since it was founded in 2018, over several series rounds led by the kingdom's sovereign wealth fund's fully-owned subsidiary Sanabil Investments, according to the National.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.