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ShopUp and Sary Merge to Create SILQ, Gulf-Emerging Asia’s Largest B2B Commerce Platform, Secures USD$110M Funding
Together, ShopUp and Sary have served over 600,000 retailers, hotels, restaurants, cafes, and wholesalers, impacting tens of millions of customers in mom-and-pop shop communities since inception. To date, the combined network has made over $5 billion in transactions on their platforms and exceeded $750 million in embedded financing disbursements. Furthermore, the companies have facilitated a total of 100 million shipments. This will establish SILQ as the platform of choice that enables businesses to grow by increasing their efficiency through a combination of financial tools, logistic services, and commerce features.
Post-merger, both ShopUp and Sary brands will continue to operate in their respective geographies under their respective brand names, while leveraging SILQ‘s infrastructure and combined capabilities. The group will also establish SILQ Financial as its financing arm. It will be creating financial infrastructure, doubling down on the embedded financing scale of both markets and the Point-of-Sales (POS) business.
ShopUp‘s Founder & CEO, Afeef Zaman, will serve as SILQ Group CEO, while Sary‘s Founder & CEO, Mohammed Aldossary will lead SILQ Financial as CEO.
“Through this merger, we‘re entering what‘s set to become one of the world‘s largest trade corridors—projected to reach $682 billion. We‘re in the front seat to serve some of the most exciting, fast-growing economies that are set to shape global consumption in the coming decades, giving them greater access to products from around the world.”, said Afeef Zaman, CEO of SILQ Group.
“By merging our strengths, we’re not just expanding our reach – we’re revolutionizing how digital commerce serves Gulf’s merchants and South Asia manufacturers. This alliance brings together the best of both worlds: deep regional expertise and world-class technology to empower every business in our ecosystem where financial services are a cornerstone,” said Mohammed Aldossary, CEO of SILQ Financial.
“SILQ is poised to become a leading B2B commerce player both regionally and globally. It addresses numerous challenges faced by B2B businesses seeking a fully integrated platform that combines financial, logistics and commerce services. This merger will enhance SILQ‘s depth, expertise and scale. We remain committed to supporting the company‘s leadership to ensure this merger benefits all stakeholders,” said a spokesperson at Sanabil Investments.
“Saudi Arabia and the Gulf represent one of the most exciting economic stories in the world today. This merger reflects a bold vision to place these markets at the center of a new commercial ecosystem connecting with South Asia. With a leadership team that has consistently demonstrated courage and foresight, SILQ has the potential to define this category through ambition that matches the regions it serves,” said James Fitzgerald, Founding Partner at Valar Ventures.
SILQ is backed by renowned investors, including Sanabil Investments, a wholly owned company by Saudi Arabia‘s Public Investment Fund (PIF), Peter Thiel‘s Valar Ventures, Flourish Ventures, VSQ, MSA Capital, Rocketship VC, STV, Wafra Investment (owned by Kuwait PIFSS), Peak XV, Prosus, Tiger Global, Endeavor Catalyst, and Raed Ventures. This round will also see participation from new investors like Qatar Government owned Qatar Development Bank. SILQ is set to establish a strong presence in Qatar to extend its offering to SMEs in Qatar.
Hashtag: #ShopUp
The issuer is solely responsible for the content of this announcement.
About ShopUp
ShopUp is a B2B commerce company that connects mills, brands, and manufacturers to small neighborhood shops, creating a seamless distribution for food & essentials. Currently, millions of people in Bangladesh access food and essentials through ShopUp’s network of small shops.
For more information on ShopUp, visit:
https://shopup.org/
LinkedIn:
https://www.linkedin.com/company/shopfront-limited/
Facebook:
https://www.facebook.com/ShopUpNow
About Sary
Sary is the leading B2B marketplace and services platform in the Gulf that connects small businesses with manufacturers and lenders to procure supplies efficiently.
For more information on Sary, visit:
https://www.sary.com/en/
LinkedIn:
https://www.linkedin.com/company/trysary/
About SILQ
SILQ is a platform dedicated to bridging economies and empowering businesses to trade, grow, and navigate new frontiers. By enabling seamless commerce, logistics, and finance, SILQ unlocks opportunities in emerging economies, fueling ambitions and redefining global trade.
For more information on SILQ, visit:
https://www.SILQ.net/
About Sanabil Investments
Sanabil is a financial investment company, wholly owned by the Public Investment Fund (PIF) that commits more than USD 3 billion in capital per annum into global private investments that include VC/Growth. Sanabil is a dynamic, nimble, and highly experienced team of investment professionals. Sanabil provides partners with patient capital, the ability to invest across multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, great minds, and great companies.
About Valar
Valar Ventures is a venture capital fund based in the United States, founded by Andrew McCormack, James Fitzgerald and Peter Thiel. The firm seeks out exceptionally talented teams and invests globally in high-margin, fast-growing financial technology companies that are pursuing huge market opportunities, such as Xero, Wise (formerly TransferWise), N26, Bitpanda, Qonto, Bestow, Octane and Moss. Valar expects to follow-on significantly as the business scales.
For more information visit-
https://valar.com/
Media OutReach
Vinpearl Partners With Three Leading Indian Travel Companies, Unlocking Access To A 1.47 Billion-Person Market
The agreements were signed at the Vietnam–India Business Forum, held as part of the State visit of General Secretary and President To Lam to India, in the presence of General Secretary and President To Lam and Maharashtra Chief Minister Shri Devendra Fadnavis.
The partnerships are expected to open direct access channels to all customer segments, stimulate travel demand and experiential tourism, and ultimately position Vietnam as a “preferred destination” for India’s 1.47 billion people.
Representing India are three of the country’s most influential and trusted travel distribution channels: Thomas Cook India, SOTC Travel, and MakeMyTrip. Thomas Cook India has strong expertise in group travel, corporate travel, and large-scale MICE tourism. SOTC Travel is well known for family vacations, group tours, and mid- to high-end leisure travel. Meanwhile, MakeMyTrip, India’s leading online travel platform, has a strong advantage in reaching younger travelers, independent tourists, and digitally-driven booking behaviors.
Representing Vietnam is Vinpearl, the country’s leading hospitality, tourism, and entertainment brand, operating nearly 60 properties nationwide. Its diverse five-star “all-in-one” ecosystem offers accommodation, shopping, dining, entertainment, golf, and MICE services, making it particularly well-suited to the travel preferences of Indian visitors, including large group travel, multi-generational family vacations, and experience-rich holidays.
Through these partnerships, the parties aim to maximize each other’s strengths, enhance tourism development capabilities, and shape tailored travel products, gradually positioning Vietnam as a “preferred destination” for Indian travelers in the near future.
Speaking at the event, Ms. Ngo Thi Huong, CEO of Vinpearl, said: “India is one of the key markets in Vinpearl’s international expansion strategy. Through partnerships with leading industry players, we are not only broadening our market reach but also proactively developing products tailored to each customer segment. Vinpearl aims to strengthen its presence in the Indian market while contributing to positioning Vietnam as an attractive and distinctive destination on the global tourism map.”
Mr. Anubhav Bansal, Vice President of MakeMyTrip and representative of the three Indian partners, added: “Vinpearl operates one of the region’s leading integrated tourism and hospitality ecosystems, with a scale, product diversity, and destination experience portfolio that increasingly align with the preferences of Indian travelers. We believe Vinpearl is playing an important role in positioning Vietnam as an attractive destination for this market. Combined with the extensive distribution strengths of both sides, this partnership is expected to significantly boost Indian tourist arrivals to Vietnam in the coming years.”
India is currently the world’s most populous country, with 1.47 billion people. The country’s rapidly expanding middle class is driving a strong surge in demand for international travel.
Recognizing the strategic importance of the Indian market, Vinpearl has not only leveraged its scale and integrated “all-in-one” ecosystem but has also continuously developed specialized offerings for Indian travelers, including luxury wedding tourism, MICE travel, multi-generational family holidays, group trips, and couple getaways. In 2025, the number of Indian guests staying within the Vinpearl system surged by a record 402% year-on-year, followed by a further 335% increase during the first four months of this year compared to the same period last year.
The signing of MoUs with these three major market access partners marks the next step in Vinpearl’s strategy to sustainably grow its visitor base from the 1.47 billion-population Indian market, while also helping position Vietnam as a “preferred destination” for Indian travelers.
Hashtag: #Vinpearl
The issuer is solely responsible for the content of this announcement.
About Vinpearl
Vinpearl is Vietnam’s leading hospitality, tourism, and entertainment brand, currently operating 60 properties across 20 provinces and cities nationwide. Its ecosystem includes a network of five-star hotels and resorts in 35 provinces and cities with more than 17,300 rooms; 15 VinWonders theme parks offering attractions for all age groups; six world-class golf courses; and three international-standard convention centers and theaters under the VinPalace brand. The ecosystem also features two semi-wildlife conservation and care parks, an equestrian academy, and spectacular multi-million-dollar live performance shows in destinations such as Nha Trang and Phu Quoc, attracting millions of visitors each year.
About Thomas Cook India
Founded in 1881, Thomas Cook (India) Limited (TCIL) is one of India’s leading omnichannel travel and tourism groups, operating across foreign exchange, corporate travel, MICE, leisure travel, and value-added services.
TCIL owns and operates several major B2C and B2B brands, including Thomas Cook, SOTC, TCI, SITA, Sterling Holiday Resorts, Asian Trails, and Desert Adventures. The group has a presence in 28 countries across five continents and is one of the largest travel service networks headquartered in the Asia-Pacific region.
About SOTC Travel
Established in 1949, SOTC Travel is one of India’s oldest and most reputable travel and tourism brands. The company is part of Fairfax Financial Holdings through Thomas Cook (India) Limited (TCIL).
Operating through an omnichannel model, SOTC offers a wide range of services across leisure travel, incentive travel, and corporate travel. With more than 75 years of experience, SOTC has served millions of travelers across destinations worldwide and is recognized for its deep understanding of Indian travelers’ preferences and behaviors.
About MakeMyTrip
MakeMyTrip is India’s leading online travel booking platform, holding a dominant position in flight bookings, hotel reservations, and travel packages. With tens of millions of users and a strong digital ecosystem, MakeMyTrip covers the entire customer journey while maintaining a strong advantage in reaching younger travelers and independent tourists.
Media OutReach
Hong Kong Momtrepreneurs’ Mother’s Day Flagship 2026 Concludes Successfully
Bringing Together Business Leaders and Paralympic Gold Medalist to Discuss the “Invisible Strength” of SEN Mothers and Full-Time Moms
HONG KONG SAR – Media OutReach Newswire – 9 May 2026 – Hong Kong registered charity Hong Kong Momtrepreneurs (HKM) successfully held its annual Mother’s Day flagship event yesterday. This year’s event, themed “The Invisible Strength: Nurturing Families, Building Futures” (堅毅雙翼:滋養家庭‧創建未來), brought together business leaders and a Paralympic gold medalist to recognise and celebrate the resilience of full-time mothers and mothers of children with special educational needs (SEN) – both within their families and in society at large.
About Hong Kong Momtrepreneurs and the Moms4Moms Fellowship Program
Since its establishment in 2018, Hong Kong Momtrepreneurs has been committed to encouraging mothers to rediscover their value through lifelong learning and an entrepreneurial mindset. Its flagship programme, the Moms4Moms Fellowship Program, aims to help mothers transform their “invisible labour” into socially recognised capabilities – combining entrepreneurial knowledge with practical skills, so that mothers can pursue their dreams while caring for their families.
Lena Wong, Founder of HKM, said: “The potential of full-time mothers has long been overlooked, leading to a hidden waste of talent. Through our Fellowship, we hope to take the soft skills and life experiences cultivated through motherhood, combine them with practical entrepreneurial knowledge and skills, and channel them back into society – creating a positive impact across different communities and levels.”
Annual Theme & Partner Support
This year’s theme focused on a marginalised group of mothers – especially SEN mothers who face multiple challenges. The event was supported by The Payment Cards Group as its lead supporting partner.
In her keynote address, Beatrice Tai, CEO of The Payment Cards Group, shared how the development of accessible payment technology can provide meaningful support to mom entrepreneurs:
“Mobile payments enable mothers to work from home, run online stores, or participate in markets. The application process is relatively simple, funds flow back quickly, and it also provides data analytics reports – allowing merchants to understand sales figures, customer profiles, and payment habits, and thus make more precise marketing strategies.”
Ms. Tai added: “AI and accessible payment technology are becoming a powerful ‘Invisible Strength’ for mom entrepreneurs – helping them close opportunity gaps and solve business pain points.”
Star Panel: Cross-Sector Guests Share Heartfelt Experiences
A highlight of the event was the themed panel discussion, where guests shared their insights on supporting mothers – from both personal and corporate perspectives:
- Ho Yuenkei, BBS (Paris 2024 Paralympic Boccia Double Gold Medalist) – Shared a moving account of how her mother’s unconditional love, support, and acceptance shaped her childhood, enabling her to overcome obstacles and achieve greatness.
- Olivia Wong (General Manager – Environmental & Social Responsibility, MTR Corporation) – Pointed out that flexible working hours offered by companies can effectively help mothers balance work with their children’s school schedules.
- Lucia Ngan (Project Manager, Learning Bridge) – Shared how diverse daily activities can support SEN youth and their mothers in both learning and daily life.
Professional Judging Witnesses 12 Mothers’ Business Pitches
The event also hosted the Moms4Moms 2025/26 Graduation Ceremony. Twelve fellows from diverse backgrounds – including mothers of SEN children – delivered 60-second business pitches to a distinguished panel of judges. These graduates showcased the confidence they had regained through the programme, transforming their caregiving experiences into commercially viable plans. Their brilliance shone through.
Judging Panel:
- Danny Lap Lee – Managing Partner, VCA Capital Limited
- Prudence Wat – Human Resources Director, Cyberport Asia
- Lisa Lam – Deputy Executive Director, HandsOn Hong Kong
Looking Ahead
Looking to the future, Lena Wong shared that Hong Kong Momtrepreneurs will continue to explore more diverse forms of support, guided by the real needs of the community – helping mothers realise their own value while caring for their families, and growing together.
Hashtag: #HongKongMomtrepreneurs
The issuer is solely responsible for the content of this announcement.
About Hong Kong Momtrepreneurs
Hong Kong Momtrepreneurs is a registered charity in Hong Kong that believes in the power of mothers supporting one another. Through its flagship Moms4Moms Fellowship, the organisation empowers mothers to bravely pursue their dreams – built on a foundation of trust, honesty, and mutual respect.
Media OutReach
VinFast Deepens Its EV Push in the Middle East Through Technology and Smart Mobility
As Gulf markets accelerate toward smart and sustainable mobility, VinFast is expanding its EV presence in the Middle East with technology-focused products, connected vehicle capabilities, and long-term ownership solutions.
DUBAI, UAE – Media OutReach Newswire – 8 May 2026 – The Middle East is increasingly emerging as one of the next major battlegrounds for global electric vehicle brands, particularly as younger consumers across Gulf countries show rising interest in smart, technology-focused mobility solutions that combine premium specifications with advanced software and digital experiences. That shift has opened the door for newer EV manufacturers to compete alongside more established automotive brands.
The opportunity reflects larger market dynamics already transforming the region. Asian EV brands have rapidly expanded their footprint across Gulf countries in recent years, supported by growing demand for feature-rich vehicles, manufacturing scale advantages, and increasingly competitive pricing.
Against that backdrop, VinFast is positioning itself as part of a broader transformation reshaping the automotive landscape across the region. As governments accelerate investments in renewable energy, charging infrastructure, and smart city development, the transition toward electric mobility is gaining momentum across the Gulf.
For VinFast, the Middle East represents a strategic growth market within its wider international expansion plan. The company has been strengthening its presence with the VF 8 electric SUV, targeting consumers seeking a combination of advanced technology, premium features, and long-term ownership value.
VinFast’s broader strategy aligns closely with those changing consumer expectations. Rather than operating solely as a conventional carmaker, the company is developing a vertically integrated EV ecosystem that combines intelligent software, connected services, and smart manufacturing capabilities.
Globally, VinFast has delivered more than 400,000 vehicles and accumulated several years of real-world driving data. That foundation has supported the development of Advanced Driver Assistance Systems, connected vehicle technologies, and over-the-air software capabilities designed to continuously improve the ownership experience.
In the Middle East market, the VF 8 is positioned around technology, comfort, and practicality for regional driving conditions. The all-electric SUV offers dual-motor all-wheel drive capability with up to 402 horsepower in the Plus variant and a driving range of up to 493 km on a full charge under the NEDC standard.
Developed in collaboration with Italian design house Pininfarina, the VF 8 combines a modern exterior design with a spacious cabin focused on digital integration and passenger comfort. Available features include a 15.6-inch infotainment display, ventilated seats, a panoramic sunroof, an air ionization-equipped climate control system, and multiple ADAS technologies, including Highway Assist, Adaptive Cruise Control, Blind Spot Detection, and 360-degree Surround View Monitoring.
VinFast is also emphasizing after-sales support and ownership assurance as key differentiators in the region. The company offers a 10-year vehicle warranty or 200,000 km, alongside a 10-year unlimited-kilometer battery warranty. Customers additionally receive access to mobile services, roadside assistance, DC fast charging networks, and over-the-air software updates.
As Gulf markets continue embracing electrification and smart mobility concepts, VinFast is seeking to establish itself as a long-term player in the region’s evolving automotive sector. By combining advanced technology, connected vehicle capabilities, and scalable EV solutions, the company is reinforcing its ambition to compete in one of the world’s fastest-changing mobility markets.
Hashtag: #VinFast
The issuer is solely responsible for the content of this announcement.
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