Egyptian B2B e-commerce startup Fatura announced that it has secured $3 million in a pre-series A round. Co-led by Sawari Ventures and Arzan Venture Capital, other participants in the funding round include Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures.
This new investment will enable the startup to offer new services, multiple digitization initiatives with a focus on digital lending and expand beyond Egypt.
Fatura was launched in 2019 by Hossam Ali, Ahmed Anwar, and AbdAllah Mohebeldin.
as a platform that connects FMCG retailers to a network of manufacturers and wholesalers across various industries.
Through its mobile application, the e-commerce marketplace leverages underused assets already owned by wholesalers and uses technology to resolve existing supply chain inefficiencies for all relevant stakeholders including retailers, wholesalers, and manufacturers.
Commenting on the timeliness of the investment, Hossam Ali, the co-founder, and CEO of Fatura said, “There is a great opportunity in the B2B space in Egypt, that is growing as the players are becoming digitally mature and ready.
Collectively, the digital B2B players in the FMCG space capture less than 5% of the market, and there is a long way to go. Our conviction is to stay asset-light, be inclusive to all the industry stakeholders, and to attract the best-on-ground acquisition force across the country.”
He also disclosed that currently, they have over 500 sellers on the marketplace including wholesalers, distributors, and manufacturers who have served 25,000 retailers through Fatura’s platform in 20 governorates across Egypt.
While the startup doesn’t manage the inventory and logistics for merchants, it still provides users with quality service. Hossam explained that their merchants can use Fatura’s mobile app to manage and update stocks, prices, offers, as well as receive orders.
“We also monitor the fulfillment rates of suppliers and their compliance with the set delivery time – and measures retailers’ satisfaction on an ongoing basis”, he added.
According to Hany Al-Sonbaty, Managing Partners at Sawari Ventures, Fatura’s existing infrastructure has enabled the startup to expand its offerings to new customers. Expressing his excitement, he added that “the team has demonstrated that they have the vision to identify new opportunities and the prowess and agility to implement and deliver. We are excited to become part of their journey.”
Featured Image: Ahmed Anwar, Hossam Ali, and AbdAllah Mohebeldin, Co-founders, Fatura
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