InstaShop, an online marketplace, sets sights on Egypt and the traditional trade and HORECA market with acquisition.
InstaShop, a prominent online marketplace for supermarkets, pharmacies, and pet shops in the Middle East, has announced its strategic acquisition of GroCart, a B2B wholesale marketplace service. This move aligns with InstaShop’s vision to expand its smart B2B operations throughout the MENA region, with a particular focus on countries like Egypt.
The acquisition will not only pave the way for increased market reach but also provide an opportunity for InstaShop to tap into the thriving traditional trade and HORECA business, leveraging the size (USD 40 million) of the UAE’s FMCG wholesale industry.
InstaShop – Expansion in the MENA region
In line with its commitment to growth and innovation, InstaShop is setting its sights on expanding its smart B2B operations across the MENA region. By targeting countries with a significant number of small shops, such as Egypt, InstaShop aims to establish a strong presence and offer its contemporary marketplace services to local businesses. This strategic approach is driven by the understanding of the evolving needs of companies in today’s dynamic market, where efficiency, cost-effectiveness, and a seamless experience are paramount, according to the company.
The lucrative traditional trade and HORECA market
With its acquisition of GroCart, InstaShop is poised to make significant strides in the traditional trade and HORECA business. The FMCG wholesale industry in the UAE, with a market size of USD 40 billion, presents a lucrative opportunity for expansion. InstaShop’s robust network, combined with its state-of-the-art technology, positions the company to revolutionize the way businesses shop, ensuring optimal efficiency and a streamlined experience for all stakeholders, the business believes.
The leaders of the two companies expressed their enthusiasm for the deal, “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,” said John Tsioris, Founder and CEO of InstaShop.
Nesma Zaghow, Co-Founder and COO of GroCart, added, “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, said, “I feel proud of what we have achieved at GroCart and I am super excited about the upcoming chapter in our story.
InstaShop’s acquisition of GroCart not only strengthens its position as a leading online marketplace in the Middle East but also propels its expansion plans in the MENA region. The combination of InstaShop’s innovative approach, GroCart’s B2B expertise, and the shared commitment to changing the way businesses trade creates an opportunity for both companies to reshape the landscape of wholesale marketplaces in the region.