Sanabil Investments Co-Leads $110m Round for B2B Commerce Group SILQ
PIF-owned Sanabil Investments jointly led a $110m round with Valar Ventures for SILQ Group, the B2B commerce platform formed by merging Saudi Arabia's Sary with Bangladesh's ShopUp.
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Sanabil Investments, part of Saudi Arabia's Public Investment Fund, co-led a $110m funding round for SILQ Group alongside Valar Ventures. SILQ was created through the merger of ShopUp, a Bangladeshi B2B commerce platform, and Sary, a Saudi-headquartered B2B marketplace.
The deal deepens Sanabil's exposure to regional B2B commerce as SILQ builds a cross-border platform spanning the Gulf and South Asia. Sanabil has been among the most active backers of Saudi and MENA growth-stage technology companies.