EGYPT – Fatura, Egyptian B2B e-commerce platform, which connects FMCG wholesalers to retailers has announced that it will be expanding into 10 governorates across Egypt.
The announcement follows the completion of the start-up’s seed funding round led by Disruptech, Egypt’s first fintech-centric VC Fund, with participation from EFG EV, and Cairo Angels, where it clinched a seven-figure US dollars investment.
The expansion, according to Daily News Egypt will add 10,000 grocery shops and kiosks to its retailer base in governorates including Greater Cairo, Alexandria, Delta, Upper Egypt, as well as the Canal Zone.
Fatura is eyeing an aggressive expansion to establish itself as the country’s leading B2B digital marketplace that connects all FMCG industry stakeholders, including manufacturers, distributors, wholesalers, and retailers.
Hossam Ali, Fatura’s CEO, commented on the accelerated growth, saying, “We are sending a strong message to the FMCG community, that our asset-light business model is set to grow fast, very fast.”
“We reaffirm our belief that what the Egyptian market’s needs is bridging the technology gap and optimising the utilisation of existing infrastructure, rather than investing in a new capital-intensive one,” he added.
Founded in 2019, the company serves FCMG retailers through an easy-to-use mobile app which enables the retailers to access a database of vetted wholesalers and their catalogues.
Besides, being a one-stop-shop for over 1500 SKUs, the company is also planning on offering working capital loans to retailers.
“We are sending a strong message to the FMCG community, that our asset-light business model is set to grow fast, very fast.”Fatura’s CEO – Hossam Ali
They will use data from its transactions to get a better grasp of the behaviour of retailers and the extent to which they are suitable and eligible to receive financial credit.
“From the moment a retailer places an on-credit order on Fatura’s app, the full process is managed digitally, covering the order delivery and confirmation, cash collection as well as settlement with suppliers. We have already started our pilot and the indicators are very positive,” said Ali.
Meanwhile, food ordering platform, Ordera based in Egypt has secured a six-figure USA dollar investment in a seed funding round led by Alexandria Angels, Saudi-based VC Daal and AUC Angels.
Ordera is an e-commerce startup that allows users to order food online and then pick it up from restaurants and cafes, without having to wait in any queue, fostering a convenient and fast process.
The Egyptian startup makes its money by charging commission on successful orders from restaurants and cafe partners listed on its platform.
To date it has closed deals with over 150 Food & Beverage service partners to include Burger King, Dunkin, Ted’s, 30 Nort, and Caribous.
The new investment acquired will enable it to further grow its user base and network of partners as well expand its footprints to other cities of Egypt starting with Alexandria.
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