Arzan VC has made a seed investment in Hulexo, an award-winning ERP provider for small and medium-sized retail stores based in Abu Dhabi. This investment marks Arzan VC’s ongoing support of early-stage tech companies, with Hulexo being the fourth investment from Arzan VC Fund III.
In order to reduce stockouts and deadstock and make operations and decision-making more proactive rather than reactive, Huzaifa Hameed, Ibrahim Al Rachdi, and Marwin Favila founded Hulexo in 2021 with the goal of developing a highly customizable ERP system that uses a powerful decision-making engine to process customer data and suggest profitable decisions in real time.
Since its founding, the company has onboarded over 100 retail locations. Leading UAE local brands like The Giving Movement, Transguard Group, My Vapery, Padel Life, and Nauras Sandals are among their clientele.
With the support of Arzan VC, the team will be able to open 300 retail locations by the end of 2025. Additionally, the investment will help Hulexo expand into two new markets—Kuwait and Saudi Arabia—and establish collaborations with shopping centers, payment processors, 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 and more robust solutions for retailers in the 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.”
