Souq.com launches Public API

E-commerce retailer announces micro-funding opportunities for SMEs

18 MARCH 2015, DUBAI, UAE

Leading e-commerce marketplace Souq.com has today released its first API (application programme interface), which will allow third parties to embed shopping deals in their site or mobile application. Retailers can build their own branded storefront, or merchants manage their listings off the site using the Souq.com platform. 

“We have been very successful at building a vertically integrated marketplace where payment, fulfillment and delivery are fully integrated to enable merchants to offer goods for sale to millions of monthly buyers on the platform. We feel it is now time to enable the same set of services off the platform, to grow the penetration of e-commerce at a faster rate ” explains Wisam Daoud, CTO of Souq.com.

The API can be integrated on web, mobile web and mobile application platforms and developers can learn more about it at http://developer.souq.com 

Souq.com is the first player in the MENA region to open up its API and is committing to foster a dynamic e-commerce ecosystem by announcing the creation of a fund that will provide seed money to teams and individuals building innovative applications on top of Souq.com API.

“We are keen to fund the development of a community of start-ups, application developers and service providers that will help grow e-commerce in the region”, comments Ronaldo Mouchawar, founder and CEO of the company. “Such an ecosystem will provide vital support to retailers and small and medium merchants who want to take their business online without the need to invest massively in technology and infrastructure.”

The micro-funding program will officially launch in the second quarter of 2015 when entrepreneurs will be able to submit their projects for review. For the projects accepted into the program, Souq.com will offer funding in the range of $5,000 to $50,000, mentorship, unrestricted access to the APIs and early access to new API releases. 

Quotes
"We have been very successful at building a vertically integrated marketplace where payment, fulfillment and delivery are fully integrated to enable merchants to offer goods for sale to millions of monthly buyers on the platform. We feel it is now time to enable the same set of services off the platform, to grow the penetration of e-commerce at a faster rate." Wisam Daoud, CTO of Souq.com
"We are keen to fund the development of a community of start-ups, application developers and service providers that will help grow e-commerce in the region" Ronaldo Mouchawar, Founder and CEO
About Souq.com

SOUQ.com is the largest online retail and marketplace platform in the Arab world, featuring more than 8.4 million products across 31 categories such as consumer electronics, fashion, health and beauty, household goods, and baby. Today, SOUQ.com attracts over 45 million visits per month, with localized operations in the KSA, UAE and Egypt.

SOUQ.com offers a convenient and safe online shopping experience with secure online payments, option to pay cash on delivery and free returns. For more information, visit www.Souq.com.

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