Teegara an e-commerce startup based in Cairo, Egypt has secured an undisclosed five-figure pre-seed investment funding.
The funding round was led by the Alexandria Angels Network with participants from other angel investors from Egypt, Saudi Arabia and Holland.
Commenting on the recently secured fund, Ahmad Kayyali, Founder and CEO of Teegara said, “This is the era of B2B and social e-commerce, with millions of online merchants and small retailers, this market is eager for the kind of value that Teegara.com provides,”
The e-commerce startup plans to ease the buying process for companies by offering them the following:
- Innovative payment methods
- Direct access to a large selection of household items
- Innovative payment methods
- Easy shipping and return procedures
Also speaking on the secured fund, Loay El Shawarby, Co-founder of Alex Angels, said:
“Perceived by many angel investors to be the rising star of B2B2C e-commerce in Egypt and soon the region at large, Teegara is an e-commerce platform that aims to popularise and democratize the opportunity to trade at the retail, discounter, and wholesale distribution levels.
Online and on-ground: anyone could trade, anytime, and realize profits. The team is brilliant and their expertise is immense.”
Moving forward, with over 1 million online merchants and hundreds of thousands of SMEs in Egypt, Teegara looking to tap into the country’s household products industry worth around EGP550 million.
It’s time for the micro and small businesses to secure decent margins, Teegara is providing a wholesale solution for sourcing from vendors directly, using our two products, the wholesale platform and the monthly catalog with point and reward system.
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