InstaShop acquires B2B e-commerce, GroCart
InstaShop had acquired GroCart, a B2B wholesale food and grocery marketplace service. This strategic move solidifies Instashop's commitment to expanding its market presence and enhancing the convenience and accessibility of grocery shopping for customers as well as businesses.
The acquisition represents a significant milestone as InstaShop is now poised to become the go-to platform for businesses in the region looking to streamline their operations and improve their bottom line. It will also enable InstaShop to expand further into the lucrative traditional trade and HORECA business, as the FMCG wholesale industry market size is USD40 billion in UAE alone.
John Tsioris, Founder and CEO of InstaShop, is thrilled with the acquisition as it meets the evolving needs of businesses today. “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. This alliance allows us to forge new partnerships and unlock innovative solutions for businesses, empowering them to thrive in the digital economy.”
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.
GroCart streamlines retail supply chain logistics for FMCG retailers through a user-friendly web platform. With 15,000 successful orders and partnerships with over 200 leading suppliers offering more than 5,000 products in the UAE, GroCart plans to expand its smart B2B operations across the MENA region, targeting countries with a high concentration of small shops such as Egypt.
According to Hussein Hosni, Co-Founder & CEO of GroCart, this acquisition will enable Grocart to lead the grocery B2B market in UAE. Together with InstaShop, the company aims to radically facilitate the way FMCG trade, financing and payments are done.