Sary, a Saudi firm, has acquired the Egyptian B2B marketplace Mowarrid

Mowarrid, an Egyptian B2B marketplace, has been acquired by Sary, a Saudi B2B e-commerce company, as the latter expands its footprint across the MENA region.

Mowarrid, founded in 2018 by Ahmed Essam, is focused on the B2B food and grocery markets, allowing over 10,000 retailers to digitally procure all of their needs across a variety of more than 1000 products on its platform.

Meanwhile, Sary, the Saudi equivalent, connects MSMEs with the biggest international brands and regional players, and has served over 350,000 customers and over 40,000 businesses in 15 cities across Saudi Arabia. It raised $112 million in a Series C round in December, bringing its total funding to $112 million, and has now begun expanding across MENA with the acquisition of Mowarrid.

“We are thrilled to be collaborating with Ahmed and the incredible team at Mowarrid.” “Their hyperlocal understanding of the Egyptian market is profound, and we believe that our visions are in sync as we reinvent the B2B ecosystem across the region,” said Mohammed AlDossary, co-founder and CEO of Sary.

“Egypt is a strategic market for us, with significant synergies with the Saudi and GCC markets.” The industry has grown significantly in recent years, with very strong digitisation in the wholesale and retail trade industries, which account for approximately 15% of Egypt’s GDP.”

Essam stated that combining forces with Sary resulted in a strong entity with a solid footprint, regional network, and technological capabilities in two of the region’s most important economies.

“With many values and principles in common, our combined force will be our greatest advantage in the coming years as we continue to solidify our ground in current markets and continue the expansion journey with a solid head start,” he said.