A $5 million pre-seed round led by Raya Trade & Distribution, a division of Raya Holding for Financial Investments, has been completed by Mazaya, the first B2B e-commerce site with an emphasis on electronics.
With the proceeds from this round, Mazaya will be able to scale its operations in Egypt and grow into new markets, possibly even other industries.
Electronics and appliance retailers and wholesalers may conveniently purchase merchandise for their stores through the Mazaya App from all the main brands at low costs, and they also have access to value-added services, thanks to Mazaya.
The CEO of Raya Trade and Distribution stated that as leading organisation in the fields of trade and distribution over the years, they are especially proud of their investment in the platform that has completely revolutionized the industry by offering the highest level of services to traders and merchants in while collaborating with their success partners.
He added that the platform particularly supports small merchants who do not have access to receive appropriate services, with helping them scale their business by employing an optimal service level giving access to a wide range of electronic devices from local and international brands at the click of a button.
As online services have grown in importance, especially for merchants and traders to support their business requirements because orders are completed digitally, allowing for higher buying efficiency and effectiveness, the B2B e-commerce market is rising quickly.
Many firms are choosing installment purchases as a result of the escalating cost of gadgets. To the extent that the demand for paying for electronics in installments has surged; according to the Financial Regulatory Authority, Egypt paid EGP 4.9 billion in installments for mobile phones and other electronic devices during the first five months of 2022.
Techbuild’s take
Since its establishment in Egypt in 2021, Mazaya has cooperated with more than 6,000 shops, completed 30,000 orders with a gross merchandise value of $15 million, and has more than 1,000 SKUs at the moment.
To help their retailers scale their businesses, Mazaya plans to provide them with financial support and assistance.
In addition to providing them with a range of credit facilities and flexible fee structures based on their payment history, Mazaya wants to make it simple for them to manage their finances by providing collection and payment services.
To establish Egypt as a top technological hub, Mazaya will also keep offering retailers and merchants improved and efficient services to assist them in facilitating and expanding their companies.
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