InstaShop has announced it has acquired GroCart, a B2B e-commerce marketplace to enhance its presence in the Middle East.
With partnerships with over 200 suppliers offering more than 5,000 products in the UAE, GroCart said it plans to expand its smart B2B operations across the MENA region, targeting countries such as Egypt that have a high concentration of small shops.
The move will also enable InstaShop to expand further into the lucrative Traditional Trade & HORECA business, with the FMCG wholesale industry market size reportedly $40 billion in UAE alone.
“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 revolutionise the way companies shop, ensuring efficiency, cost-effectiveness, and a seamless experience,” said John Tsioris, Founder and CEO of InstaShop.
Founded by Hussein Hosni and Nesma Zaghow, both of whom come from a pharmaceutical background, GroCart was established to support the transformation of the grocery market scene during the peak of COVID in 2020. The platform offers a one-stop-shop solution for wholesalers, retailers, and manufacturers in the region.
“We are excited to take GroCart to new heights alongside Instashop,“ said Nesma Zaghow, Co-Founder and COO of GroCart. “The shared vision between Instashop and Grocart is exciting, we believe that together we’ll be able to enhance our impact while pushing the boundaries of customer experience.”
Hussein Hosni, Co-Founder & CEO of GroCart added, “In just 2 years, we have built a solid startup that has grown exponentially. We firmly believe that this milestone will enable Grocart to lead the grocery B2B market in UAE. Together with InstaShop, we aim to radically facilitate the way FMCG trade, financing and payments are done. Through this acquisition, Grocart will strongly benefit from InstaShops’ broad client base and strong financial position to unlock more opportunities.”