SILQ
SILQ is a B2B commerce platform formed from the merger of Bangladesh's ShopUp and Saudi Arabia's Sary, serving small businesses, retailers, and entrepreneurs across the Gulf and Emerging Asia with integrated procurement, logistics, and embedded financial services.
- Company typePrivate
- Founded2025
- HeadquartersSingapore, Singapore
- Headcount501–1,000
- GTM typeB2B
- OfferingDigital Commerce or Content
What SILQ does
SILQ is a B2B commerce platform formed in April 2025 through the merger of Bangladesh's ShopUp and Saudi Arabia's Sary, operating across the Gulf and Emerging Asia markets. The company serves small businesses, retailers, and entrepreneurs by enabling digital procurement, cross-border trade, logistics, and finance services through an integrated platform. Its offering is structured around four sub-brands: the core SILQ marketplace platform, ShopUp (Bangladesh B2B commerce), Sary (Gulf B2B marketplace), Omni (logistics and fulfillment), and SILQFi (embedded financial services for SMBs). The combined network has facilitated over $5 billion in transactions and 100 million shipments impacting tens of millions of customers, though these figures represent Gross Transaction Value (GTV) rather than company revenue.
The underlying technology is a multi-tenant B2B commerce stack combining marketplace functionality with adjacent logistics and financial-services rails. Revenue is generated through transaction fees on the platform, with the customer base consisting of a horizontal long-tail of SMB buyers and suppliers rather than enterprise anchors. The company does not publicly disclose pricing or per-customer contract terms, and there is no evidence of proprietary AI/ML models or named technology differentiators in the available source material.
SILQ is headquartered in Singapore and was founded as a private, venture-backed entity with 501–1,000 employees. It raised $110 million in April 2025 in a round co-led by Sanabil Investments (the venture arm of Saudi Arabia's Public Investment Fund) and Peter Thiel's Valar Ventures, with participation from Tiger Global, Prosus, STV, Endeavor, Flourish Ventures, and other regional investors. The company has publicly stated plans for an IPO by 2027 as it expands the combined platform into additional Gulf and Emerging Asia markets.
SILQ firmographics
Firmographics- Name
- SILQ
- Legal name
- SILQ
- Website
- https://silq.net
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- SILQ is a B2B commerce platform formed from the merger of Bangladesh's ShopUp and Saudi Arabia's Sary, serving small businesses, retailers, and entrepreneurs across the Gulf and Emerging Asia with integrated procurement, logistics, and embedded financial services.
- Ownership category
- akta.pro rank
SILQ industry classification
Industry- Product category
- B2B Commerce Platform
- NAICS
- Computer Systems Design and Related Services (54151), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Freight Transportation Arrangement (488510)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- B2B Marketplaces & Wholesale Platforms (BPAMAGAD)
- akta.pro secondary industries
- Cross-border B2B/Wholesale Trade Marketplaces (CRAFAJAC), B2B / Wholesale Fulfillment Centers (TLALADAB), Trade & Invoice Payments (Cross-Border B2B) (FSAMAIAL)
Keywords
Where SILQ is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Markets served
SILQ business model
Business model- GTM type
- B2B
- Offering type
- Digital Commerce or Content
- Cost components
- Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales
Revenue model
- B2B Commerce Platform: SILQ operates as a B2B commerce platform facilitating commerce, logistics, and finance between businesses in Gulf and Emerging Asia markets. The platform connects small businesses and retailers enabling trade and procurement services.
Go-to-market motion1 record
Distribution channels1 record
SILQ product offering
Product offeringCore offering
SILQ operates a B2B commerce platform that bridges Gulf and Emerging Asia markets, enabling small businesses and retailers to access digital procurement, cross-border trade, logistics, and finance services. The platform is the result of merging Bangladesh's ShopUp with Saudi Arabia's Sary, and integrates logistics (Omni) and financial services (SILQFi) offerings under a unified network.
Product overview
SILQ is a B2B commerce platform formed from the merger of Bangladesh's ShopUp and the Gulf's Sary, creating the largest B2B commerce platform across Gulf and Emerging Asia. The platform provides a unified offering comprising the core SILQ Platform for commerce, logistics (Omni), and finance (SILQFi), enabling seamless commerce, logistics, and finance services. The combined network has facilitated over $5 billion in transactions and 100 million shipments impacting tens of millions of customers.
Differentiator
Problem solved
Functional benefit
Products and services
- SILQ Platform The core B2B commerce platform that bridges Gulf and Emerging Asia markets, formed from the merger of ShopUp and Sary, enabling seamless commerce, logistics, and finance for businesses across regions.
- ShopUp Bangladesh's largest B2B commerce platform, now operating as a subsidiary of SILQ Group, facilitating B2B transactions in the South Asian market.
- Sary Gulf's leading B2B marketplace and services platform, now operating as a subsidiary of SILQ Group, connecting businesses in the Middle East region.
- Omni Logistics platform under SILQ Group providing fulfillment and delivery services across the combined network.
- SILQFi Financial services offering under SILQ Group, providing digital procurement and finance solutions.
Quantifiable outcome
- Over $5 billion in transactions facilitated through combined network
- +1 more outcomes
Companies that use SILQ
Customer profileSegments1 record
Ideal customer profiles1 record
SILQ technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
SILQ partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights5 records
SILQ competitors and assessment
Company assessmentDirect peers
- Salla: Saudi-based commerce platform serving SMBs across the Gulf with storefronts, payments, and shipping integrations — operates in the same merchant-enablement space as Sary/SILQ in the Kingdom.
- Zid: Saudi Arabia-based e-commerce enablement platform providing SMBs with storefronts, payments, and logistics tooling — competes in the same Saudi B2B commerce category that Sary historically led.
- Udaan: India's largest B2B commerce platform serving SMBs and retailers across categories, with integrated logistics and financing — closely mirrors SILQ's commerce + logistics + finance stack targeting emerging-market SMBs.
- Tradeling: Dubai-based B2B e-commerce marketplace serving MENA, operating a horizontal wholesale platform connecting buyers and suppliers across the Gulf — directly comparable to Sary's legacy business and SILQ's Gulf operations.
Broad incumbents
- Shopify: Global commerce platform enabling merchants to build online stores with integrated payments, fulfillment, and capital — serves as the broad commerce-platform incumbent whose merchant-tools and embedded-finance model parallels SILQ's vertical integration approach.
- Alibaba.com: Global B2B e-commerce marketplace connecting international wholesalers and buyers — the global scale incumbent in horizontal B2B marketplaces, competing with SILQ for cross-border emerging-market trade flows.
- IndiaMART: India's largest horizontal B2B marketplace serving manufacturers, suppliers, and buyers — a comparable emerging-market B2B commerce incumbent with established network scale.
- Amazon Business: Amazon's B2B procurement marketplace offering catalog breadth, logistics integration, and corporate credit — the global benchmark for B2B commerce platforms and a potential expansion threat into Gulf and South Asia.
Regional players
- Noon: Middle East-headquartered e-commerce platform (backed by Saudi PIF and Mohamed Alabbar) operating across Gulf and North Africa — a regional commerce incumbent whose Saudi sovereign alignment parallels SILQ's positioning.
Emerging players
- Meesho: India-based social commerce platform enabling SMBs and small manufacturers to sell online — adjacent emerging-market commerce model with overlapping SMB target customers and similar tier-2/3 market focus.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
SILQ social profiles
Digital presenceSILQ financial estimates
Financial estimateRevenue estimate
Valuation estimate
SILQ leadership team
Management profileNumber of profiles
Profiles2 records
SILQ subsidiaries and ownership
Company hierarchySubsidiaries4 records
SILQ funding detail
Funding detailFunding overview
Funding rounds5 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SILQ M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SILQ
What does SILQ do?
SILQ operates a B2B commerce platform that bridges Gulf and Emerging Asia markets, enabling small businesses and retailers to access digital procurement, cross-border trade, logistics, and finance services. The platform is the result of merging Bangladesh's ShopUp with Saudi Arabia's Sary, and integrates logistics (Omni) and financial services (SILQFi) offerings under a unified network.
Is SILQ a public or private company?
SILQ is a private company. It is classified as venture growth investor backed and is currently operating.
When was SILQ founded?
SILQ was founded in 2025. It employs 501 to 1,000 people.
Where is SILQ based?
SILQ is headquartered in Singapore, Singapore, in the Asia region.
How does SILQ make money?
One revenue line is on record: B2B Commerce Platform.
Who are SILQ's main competitors?
Direct peers on record are Salla, Zid, Udaan and Tradeling. Broad incumbents are Shopify, Alibaba.com, IndiaMART and Amazon Business. Noon is listed as a regional player. Meesho is listed as an emerging player.
Does SILQ have an API?
No public API is recorded for SILQ.
What industry is SILQ in?
SILQ's product category is B2B Commerce Platform. Its primary akta.pro industry code is BPAMAGAD, B2B Marketplaces & Wholesale Platforms, with a secondary code of CRAFAJAC, Cross-border B2B/Wholesale Trade Marketplaces. Its NAICS code is 54151 and its SIC code is 7370.