Q&A with Amjad Puliyali, the co-founder of e-grocer GetBaqala

How many active users does GetBaqala have?

We focus on monthly active users and monthly repeat purchases so we get about 30,000 users in Bahrain. We’re not talking any numbers from Saudi Arabia because it’s too early for us, but the numbers are growing very fast.

What are your targets for next year?

Out of the 30,000 monthly active users, we have 2.8 monthly purchases from each customer. We plan to increase the number of frequency of purchases to five times by next year, so that’s double the numbers from the same customer.

What are your revenue targets?

We’ve grown over 40 per cent month-over-month over the last 12 months. Comparing last November to this November, we’ve seen absolute 500 per cent growth year-on-year and our revenue retention rates are among the best in the industry. We have 50 per cent user retention. These numbers are very important for a grocery player because this business is not based on acquisition but based on retention.

Do you have plans for an exit at some point?

Exit is not on the agenda for the next five years because there’s a lot to do and we have a very clear-cut action plan. It’s too early for an exit – I’m looking for those who have a bigger agenda and the same thought process.

What are your plans to raise finance?

We raised about $1.5 million dollars and the next target will be next year and there’s another bridge round closing for half a million dollars. Next year we’re looking at a Series A of around $3m to $5m. That will give us a decent run for 18 months to fund expansion into Saudi Arabia and Kuwait.