Egypt-based B2B marketplace, Kuzlo, has raised an undisclosed amount of pre-Seed investment.
The funding round was led by Nama Ventures, and Kuzlo seeks to push its products and services with this new funding.
Speaking on the reason for the investment in Kuzlo, the founder and managing partner of Nama Ventures, Mohammed Alzubi, said,
“Part of our investment thesis at Nama is to look for great teams that are disrupting traditional businesses leveraging technology.
This had become most evident in the supply chain in the grocery space in Mena. Ayman, Mohammed Gebril, Bassem, and their great advisor Tarek are true examples of a complementary team with deep knowledge in the industry, technology expertise, and operational excellence to take a shot at this space in Alexandria.
We have no doubt that this team is on to something special and we are honoured and privileged to be this sole pre-seed investor and backer.”
Established in March 2021 by Ayman, Tarek, Bassem, and Gebril, Kuzlo is a business-to-business (B2B) marketplace that connects fast-moving consumer goods (FMCG), small retailers, with wholesalers that are available in their area, while giving them total transparency on product availability and prices.
It uses technology to provide FMCG players with the best supply network to ensure business success.
This is important because the dynamic nature of the FMCG market is causing high competition from the mega stores and chains which in return is creating high pressure on traditional supermarkets and groceries.
Kuzlo ensures its customers experience optimum customer service and delivers excellent delivery services thereby gaining the trust of its customers.
While speaking on the possibilities that lie ahead of digitizing Kuzlo’s services, KuzAyman Elgarem, Co-founder and CEO, Kuzlo, said,
“Digitalisation is becoming the main driver for the transformation of many industrial sectors and the B2B marketplace in Egypt has just started its journey towards a digital future.
Kuzlo is helping small retailers shift into the new future challenges and support them to strengthen their business value using new digital trends of e-commerce and e-finance in the near future.”
Don’t miss important articles during the week. Subscribe to techbuild weekly digest for updates