Gahez, an Egyptian-based e-commerce business, and B2B fashion platform has recently secured $2 million in its newest round of funding.
Disruptech Ventures led the pre-Seed round, which included Egypt Ventures, Tanmeyah (an EFG Hermes business), Afropreneur Fund, and other significant angel investors.
Gahez is an online platform that launched around the end of last year, 2021 with the goal of transforming the wholesale delivery service by expediting the procedure between merchants and producers, resulting in a better e-commerce cycle.
Gahez has effectively unencumbered fashion merchants from current procurement inefficiency and hurdles by using a data-driven approach that has improved their variety of merchandise and sourcing possibilities.
Gahez also offers credit to retailers, making the collection process easier while handling payment settlements with vendors through third-party aggregators.
Manufacturers and businesses now have immediate access to thousands of sellers, allowing them to increase their margins and bring in new sorts of customers without having to worry about the logistics of their business.
Gahez’s platform helps manufacturers and brands streamline their operations by delivering strong sales, marketing, and analytics capabilities, allowing them to focus on creating the appropriate goods and expanding their business.
Gahez has grown its footprint to 16 governorates across Egypt since its start in 2021, acquiring over 15,000 shops, 142 producers, and over 4,000 SKUs.
Gahez’s SKU is a wholesale collection of sizes and colors that can be purchased on their platform by brick-and-mortar businesses, online dealers, and street salespersons.
Wael Olama, an industry veteran and Gahez co-founder/CEO, spoke on the company’s increase and development, saying the company is on a mission to change the way merchants purchase for their stores by removing the stress of managing and procurement.
It believes that the Egyptian/African apparel market is underserved and fractured, providing Gahez with the ideal chance to advance and position itself within the sector using technology.
The garment market in Egypt is over $24 billion, thus the market potential is limitless. Along with Egypt’s $2 billion in garment exports, largely to the US and EU markets, there is a significant potential for expansion in African markets, which can only be achieved quickly via the online environment.
Gahez is delving into the vastly underserved market of roadside resellers by offering them lesser ticket-size deals, allowing them to expand their trading capabilities and increase their margins and variety.
The startup will accelerate its development and geographical expansion within the country in order to respond effectively to demand from neighboring African countries.
The Egyptian-based firm will use its freshly raised capital in developing world-class technology and recruiting top staff, allowing Gahez to serve all of its target client segments and expand in the near future.
Mohamed Okasha, the Managing Partner of Disruptech, remarked that they are pleased to help Gahez’s business growth strategy by serving on the board of directors and providing strategic advice.
The group is paving the way for the region’s clothes wholesale business to be digitized. Mohamed stated that he is confident that they will be able to meet their goals with this funding.
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