24SEVEN, a Pakistan’s technology and community commerce platform, has launched in the UAE.
The entry into the new market marks the first step in its GCC expansion plans.
Co-founder and CEO, Jarrar Shah, said: “The UAE retail market is one of the most thriving sectors and with a focus on digital transformation and innovation across the economy, there is a very promising and lucrative outlook for grocery retail technology businesses in the region.
“With our expertise in this field along with best-in-class technology, we embark on an exciting journey to launch our business and introduce digital retail solutions and fintech services, to support owners and operators of small and medium grocery stores all over the UAE.”
24SEVEN currently serves approximately 6,500 grocery businesses.
“With our trusted, multi-function handheld POS device, 360-degree retail management system and cost-effective software solutions, we serve thousands of businesses and more than 1.2 million customers daily. The time is ideal now to leverage our expertise, expand our presence and support grocery stores to overcome their everyday challenges. We are excited to grow our UAE-based team who will provide friendly, 24/7 support to baqalas and grocery store owners,” added Mr Shah.
Founded in 2016, 24SEVEN provides digitised point-of-sale solutions to help handle transactions, manage inventory and track sales. It supports grocery businesses by increasing loyalty and footfall and e-commerce enablement.
The Group’s operations include multiple brands, including Apni Dukan, WholeMart, 24SEVEN Fresh and SHAAF Drinking Water.
The company has received strong backing, including a June 2022 Pre-Series A raise of $6 million, from investors including SOSV, Betatron Venture Group, Newlin VC, Verity Capital and Argo’s Quest.
The UAE food and grocery retail segment is currently valued at $37 billion, according to Statista.
