Sary, a MENAP B2B e-commerce platform, announced today it has taken a significant stake in the Pakistani B2B eCommerce platform Jugnu, leading Jugnu’s $22.5m Series A round.
Sary’s investment marks its expansion into Pakistan and its second deal this year following its acquisition of Egyptian B2B food and grocery marketplace, Mowarrid, in March.
“Supply chain fragmentation is a persistent issue across emerging markets, leaving local businesses in a disadvantageous position. Following Sary’s strong growth and success in Saudi Arabia in 2021, Sary’s focus this year has been accelerating our regional consolidation strategy to help bridge efficiency gaps in B2B sales in MENAP,” Mohammed AlDossary, Sary’s co-founder and CEO, said.
The investment and alliance paves way for consolidation in the B2B eCommerce supply chains in MENAP, providing both companies with the ability to leverage diverse expertise and talent transfers across the region.
“Our new alliance with Sary will be a great boost for Jugnu. We’ve established a foothold in our existing operating cities with a rapidly growing customer base, and Sary will help us accelerate the development of our platform to connect producers and businesses, thereby ensuring SMEs in Pakistan have access to the best, most competitively priced goods at a single tap. Both Sary and Jugnu stand to gain from a MENAP-wide knowledge and talent network, by which employee exchanges will bring our teams closer together, leverage complementary expertise, and build an interdisciplinary skillset needed to create a frictionless B2B eCommerce gateway across the region,”Jugnu Sharoon Saleem, co-founder and CEO said.
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