North Africa

Egyptian B2B e-commerce startup Fatura raises the 7-figure financing round

Egyptian B2B e-commerce company Fatura, which links FMCG wholesalers to retailers and a digital lending network for small traders, has raised a seven-figure US dollar seed round to help it grow.

Founded by Hossam Ali, Ahmed Anwar and Abd Allah Mohebeldin, who were later joined by Ahmed Al Bakary, Fatura was set up to meet the demand of FMCG retailers by providing a simple-to-use mobile app that enables them to access a network of carefully screened wholesalers.

Startup leverages underused assets already held by wholesalers and uses technology to resolve current supply chain inefficiencies for all key stakeholders, including distributors , wholesalers and manufacturers.

In addition to the one-stop offering of more than 1,500 SKUs available, Fatura is on its way to offering its retailers working capital loans, leveraging transaction-based data to analyze retail behavior and creditworthiness.

The objective of Fatura is to become the largest e-wholesaler in Egypt and Africa, and it has been strengthened in its pursuit of this goal by setting up a seven-figure seed funding round led by Disruptech, Egypt’s first Fintech-focused VC Fund, with the participation of EFG EV and Cairo Angels.

“Egypt has more than 5,000 wholesalers, spending heavily to create another one will not overcome current scale inefficiencies.

This capital-intensive strategy has never made much sense to us in the light of the realities of the Egyptian market. Alternatively, we are on the task of curating a network of 200-250 wholesalers across the country, digitally transforming the way they operate and enabling them to jointly run the FMCG distribution company nationally, “said Hossam Ali, co-founder of Fatura and Chief Executive Officer (CEO).

Mohamed Okasha, Disruptech’s managing partner, said his company was excited to lead the Fatura investment round.

Mohamed Okasha, Disruptech’s managing partner, said his company was excited to lead the Fatura investment round.

“We firmly believe in the promise that lies in the digitization of the wholesale-retail relationship. Disruptech sees Fatura playing a key role in changing the industry, and we are committed to helping Fatura achieve its goal, “he said.

Zeina Mandour, Managing Director of Cairo Angels, said she was pleased to have closed this investment round and to have co-invested with other local investors.

“In the Fatura squad, we are very positive. We have no doubt that they will use this seven-figure investment to scale up and expand their services to all of Egypt, “she said.