Abu Dhabi, UAE – Hulexo, the Abu Dhabi-based award-winning ERP provider specializing in solutions for small and medium-sized retail stores, has successfully secured Seed investment from Arzan Venture Capital (Arzan VC). This investment underscores Arzan VC’s continued commitment to nurturing early-stage tech startups. Hulexo is the fourth company to receive backing from Arzan VC’s Fund III.
Founded in 2021 by Huzaifa Hameed, Ibrahim Al Rachdi, and Marwin Favila, Hulexo was established with a vision to revolutionize retail operations through a highly customizable ERP solution. The platform leverages a robust decision-making engine to process customer data and provide real-time, profit-boosting recommendations. This approach helps retailers minimize stockouts and deadstock, ensuring that their operations are proactive rather than reactive.
Since its inception, Hulexo has onboarded more than 100 retail locations across the UAE, including notable local brands such as The Giving Movement, Transguard Group, My Vapery, Padel Life, and Nauras Sandals. With the fresh capital infusion from Arzan VC, Hulexo aims to expand its reach to 300 retail locations by the end of 2025. Additionally, the company plans to enter two new markets—Kuwait and Saudi Arabia—and establish strategic partnerships with malls, payment providers, and licensing authorities.
Huzaifa Hameed, Co-founder and CEO of Hulexo, expressed his enthusiasm about the partnership, stating, “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 the UAE and beyond.”
Hasan J. Zainal, Founder & Managing Partner of Arzan VC, highlighted the importance of Hulexo’s mission, saying, “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.”
About Hulexo:
Hulexo, founded in 2021 by Huzaifa Hameed, Ibrahim Al Rachdi, and Marwin Favila, is an innovative ERP provider dedicated to helping retailers streamline their operations. The company offers customized, subscription-based ERP systems along with a decision engine that acts as a co-pilot for retail businesses, guiding them towards profitable decisions. In less than two years, Hulexo has successfully onboarded over 100 retail locations, including prominent names such as The Giving Movement, Transguard Group, and The First Group. Hulexo is on track to expand its footprint across the Middle East and aims to reach 300 retail locations by the end of 2025.
About Arzan VC:
Arzan Venture Capital (Arzan VC) is a Kuwait-based venture capital firm that has been supporting startups with a MENA focus since 2015, making it one of the region’s pioneering VC firms. Arzan VC’s diverse portfolio includes over 45 startups, with three companies achieving unicorn status. The firm is dedicated to investing in young, fast-growing, and innovative tech teams, fostering long-lasting relationships with the most talented entrepreneurs in the region.
