Abu Dhabi-based award-winning ERP provider for small and medium-sized retail stores Hulexo secured a Seed investment from Arzan VC, a move that shows Arzan VC’s continuous commitment to early-stage tech teams. Hulexo is the fourth investment of Arzan VC Fund III.
Hulexo was founded in 2021 by Huzaifa Hameed, Ibrahim Al Rachdi and Marwin Favila with a vision to create a highly customizable ERP solution that uses a robust decision-making engine to process customer data and suggest profitable decisions in real time, reducing stockouts and deadstock while making the operations & decision-making process proactive rather than reactive.
The company has onboarded more than 100 retail locations since inception. Their client list includes multiple leading local brands in the UAE such as The Giving Movement, Transguard Group, My Vapery, Padel Life and Nauras Sandals.
Arzan VC’s investment will help the team reach 300 retail locations by end-2025 and it will also facilitate Hulexo’s expansion into 2 new markets (Kuwait & Saudi Arabia) as well as set up partnerships with malls, payment providers and licensing authorities.
Huzaifa Hameed, Hulexo’s Co-founder and CEO commented: “We are excited to have Arzan VC as a key partner in our journey to scale further into the Middle East market. This partnership will play a crucial role in our efforts to keep innovating and delivering faster, smarter & more robust solutions for retailers in UAE and beyond.”
Hasan J. Zainal, Arzan VC’s Founder & Managing Partner, commented: “Traditional ERP systems are often costly for SMEs, with over 75% of implementations failing. This is why we at Arzan VC see Hulexo as a game-changer for retail SMEs in the region. We chose to invest in Hulexo to support their MRR growth and expansion into Kuwait. Plus, we genuinely believe in the strength of their team.”
