UAE-based X-ERA acquires SPEED for logistics, distribution services

UAE-based technology services and logistics X-ERA has completed the acquisition of Egypt’s growing B2B e-commerce platform SPEED.

SPEED is an affiliate of SPEED International for Distribution & Logistics.The acquisition marks a major milestone in digital transformation to connect FMCG supplies with small and medium-sized merchants, retailers and upcoming consumers through digital platforms.

As a digital business solutions company, X-ERA is now working with its partners to improve SPEED, making it more user-friendly and further providing features and benefits to FMCG merchants and retailers.

The platform enables small and medium-sized grocery owners in Egypt to not only source inventory from wholesalers, distributors and manufacturers at transparent prices; retailers can also access a one-stop shop to explore a wide range of products from multiple brands . They can make a basket based on inventory needs, place an order and get it delivered 24 hours a day, 7 days a week.All from their smartphones while they’re doing business as usual at their grocery store.

X-ERA’s mission is to redevelop the informal market using innovative business solutions and enabling technologies to meet the needs of retailers in different geographic regions.Its mission is to empower grocers, retailers and merchants through access to a broad range of products, premium services and operational support that enhances their capabilities in all day-to-day operations.

Commenting on this segregation and deal, SPEED Chairman Ahmed Hassan said: “We believe this will reshape B2B FMCG e-commerce in Egypt; by offering many benefits to Micro, Small and Medium Enterprises (MSMEs). All supply chain and logistics services and e-commerce ecosystem focus for all FMCG companies“.

“A major purpose of the quarantine is to expand; the current merchant/retailer base of the SPEED B2B e-commerce application is 35,000 and is expected to reach 100,000 by mid-2023.

The expected plan is also to expand nationwide by the end of 2023, compared to nine provinces currently. Mahmoud El-Enani, CEO of X-ERA, said: “Through the relaunch, the SPEED app will gain a new brand and identity, increasing the USP of the small and medium-sized grocery store owners it serves.”

X-ERA plans to invest millions in technology development and geographic expansion.