B2B Startup Retailo Buys eCommerce Platform DXBUY
Retailo, a Riyadh, Saudi Arabia, company that digitizes retail operations in the Middle East and North Africa and recently called itself “the fastest growing startup in the Middle East,” acquired United Arab Emirates B2B eCommerce platform DXBUY, according to published reports.
DXBUY describes itself as “a B2B eCommerce app designed to simplify the buying process by directly connecting small businesses with manufacturers and wholesalers through a digital platform.”
With DXBUY, Retailo expects to expand further into the hotel, restaurant and cafe (HORECA) sector in the Middle East and North Africa. “The HORECA industry is expected to be $60 billion in less than five years,” The Kaleej Times reported.
Retailo was co-founded by Talha Ansari and Wahaj Ahmed. Arab News reported that Retailo was ranked 14th on Forbes’ list of the 50 most funded startups in the Middle East in 2021.
According to Crunchbase, Retailo has raised $45 million in venture capital from 13 investors.
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