Tawfeer Market has secured a seed round of US$500,000 with contributions from the Alexandria Business Angels Network, in order to facilitate growth and expansion beyond Alexandria, Egypt.
The startup also took part in the recent AUC VLab acceleration program. Tawfeer Market is an e-commerce platform that allows users to find and purchase groceries via app, which is then delivered through its fulfillment arm.
The quick commerce app has been downloaded over 100,000 times so far, receiving tens of thousands of orders at a steady two-digit rate month-to-month.
According to Ahmad Fasseeh, co-founder and CEO of Tawfeer Market, the grocery retail market is huge, exceeding US$50 billion, but the Egyptian retail market still lags behind.
He explained; “Online grocery shopping in Egypt is expected to grow exponentially, giving room to many players to fulfill various needs. There are three main criteria that retail grocery consumers lookout for: convenience, variety and price.
At Tawfeer Market, we try to offer the right formula that meets consumer needs in the majority of their orders. We also offer the most commonly ordered 4,000 SKUs, which includes both frozen and fresh food, at the lowest price within 60 minutes.”
Tawfeer launched its operations in October 2019. It is a mobile application where consumers can order groceries online and receive the products within the same day, usually within 2-3 hours. Products are sent in branded bags from Tawfeer warehouses in Tawfeer by Tawfeer delivery team.
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