Wednesday July 17th, 2024
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UAE’s InstaShop Acquires GroCart Marketplace for MENA Expansion

This venture allows InstaShop to further penetrate the lucrative Traditional Trade & HORECA business.

Startup Scene

InstaShop, a UAE-based online marketplace catering to supermarkets, pharmacies, pet shops and various other businesses in the Middle East, has recently announced its acquisition of GroCart, a B2B wholesale marketplace service recognised for its customer experience and extensive product selection.

GroCart has effectively handled over 15,000 orders thanks to its partnerships with over 200 top suppliers, offering a diverse range of more than 5,000 products in the UAE. With this acquisition, GroCart aims to expand its intelligent B2B operations throughout the MENA region, focusing on countries with a high concentration of small shops, including Egypt.

The acquisition of GroCart represents a significant milestone as InstaShop positions itself as the go-to platform for businesses in the region seeking to streamline operations and improve profitability. This venture allows InstaShop to further penetrate the lucrative Traditional Trade & HORECA business. The FMCG wholesale industry in the UAE alone is valued at $40 billion.

"We recognize the evolving needs of businesses in today's dynamic market, and we are thrilled to announce our acquisition of GroCart. By leveraging our extensive network and cutting-edge technology, we aim to revolutionize the way companies shop, ensuring efficiency, cost-effectiveness, and a seamless experience,” John Tsioris, the Founder and CEO of InstaShop, tells StartupScene. “This alliance allows us to forge new partnerships and unlock innovative solutions for businesses, empowering them to thrive in the digital economy."

GroCart - founded by Hussein Hosni and Nesma Zaghow, both of whom hail from a pharmaceutical background - was established to support the transformation of the grocery market during the peak of the COVID-19 pandemic in 2020. The platform provides a comprehensive solution for wholesalers, retailers, and manufacturers in the region.

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