Dukkantek secures BECO Capital led $10m funding round

Store management platform Dukkantek has announced a $10 million pre-Series A funding round as it looks to scale its digital ecosystem for SMB retailers across the UAE, Oman, Qatar, Kuwait, Bahrain, Turkey and Saudi Arabia and eyes more opportunities in North Africa.

The round was led by BECO Capital with participation from Rocketship and Colle Capital.

Other investors included Comma Capital, AMK Investment Office, Chaos Ventures, and Wamda Capital.

This follows a $5.2 million seed round in October 2021, taking Dukkantek’s total funds raised to $15.2 million.

The startup was founded in January 2021 by Ali Al Sayegh, Sanad Yaghi and Shadi Joulani.

Originally conceived as a service aimed at retailers in the grocery sector, the merchants on the platform now span 70 different verticals, with clothing and electricals particularly prominent alongside food and drink.

It has attracted thousands of customers for its suite of services empowering traditional merchants with end-to-end digital technology that aims to improve all business processes.

It enables these retailers to run their bricks and mortar stores more efficiently and productively and to make the leap into e-commerce.

Yaghi comments: “For too long, the owners of small and medium sized businesses have been left on the margins of the technology shift; now we are serving their unmet needs.”

“We bring a technology platform consisting of three different value propositions that enable these merchants to compete in a digital world”

“This includes a set of tools that enables merchants to run their businesses more effectively. Payments options ensure merchants can offer customers more choice about how to settle their bills.”

“And an e-commerce offering which gives merchants everything they need to start selling online for the first time and to manage that operation in tandem with the bricks and mortar business.”

“Many merchants struggle to keep track of inventory when selling both online and in physical stores, so having one system that incorporates both parts of the business is very important”.

"It's very rare to come across a business and team that have been able to execute the way in which Dukkantek has done so far,” says Abdulaziz Shikh Al Sagha of BECO Capital.

“Launching seven countries in 18 short months since founding is no easy feat, yet the Dukkantek team has managed to do it in such a seamless and capital efficient manner.”

“We are very excited to partner with Sanad, Ali and the wider team as they look to build on their exciting traction and overall vision of digitising merchants.”

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