Saudi-based start-up Retailo, a business-to-business (B2B) platform for retail supply chains, has acquired Dubai’s e-commerce marketplace DXBUY for an undisclosed amount.
The acquisition, which follows a Series A investment round early this year that raised $36 million, is part of the company’s growth strategy in the Middle East, North Africa and Pakistan (MENAP) region, according to a statement.
DXBUY’s digital platform operates in the food and beverage, grocery and retail segment, connecting businesses like restaurants and cafes with manufacturers, wholesalers and distributors.
With the acquisition, DXBUY will be able to capitalise on the the growing hotel, restaurant and café market in MENAP, which is forecast to reach $60 billion in less than five years.
(Writing by Cleofe Maceda; editing by Seban Scaria )