EGYPT – Mazaya, the first B2B e-commerce platform that is focused on electronics, has announced that it has completed a pre-seed round of funding in the amount of US$5 million.

The round was headed by Raya Trade & Distribution, which is a subsidiary of Raya Holding for Financial Investments.

Mazaya will be able to scale its operations in Egypt, as well as expand into other markets and maybe into other sectors, as a result of this round of funding.

“We are humbled and excited to continue transforming the electronics distribution business and value chain while empowering all retailers and merchants,” Amir Aboul Fotouh, Mazaya Co-Founder & Head of operations said.

“We are also thrilled to have strategic investors with extensive experience in electronics retail, distribution, and logistics, such as Raya. The funds raised will allow us to quickly scale our operations and expand to other markets beyond Egypt, we have plans to launch our services in Nigeria before this year-end.”

Since its inception, the firm has received a lot of attention. Mazaya has more than 1,000 stock-keeping units (SKUs) and has worked with over 6,000 shops since its start. It has also processed 30,000 orders with a total gross merchandise value of US$15 million.

“As leaders in the fields of trade and distribution over the years, we are proud to invest in this ambitious platform that revolutionized the industry by providing the highest level of services to merchants in collaboration with their success partners,” said Bassem Megahed, CEO of Raya Trade and Distribution.

“The platform conveniently supports merchants, particularly small merchants who do not receive adequate services, with the ability to scale their business through a superior level of service and a wide range of electronic devices from all international and local brands at the click of a button.”

Mazaya was established in 2021 by Amir Aboul Fotouh. It gives retailers and merchants of electronic products and home appliances access to value-added services and enables them to effectively buy inventory for their businesses via the Mazaya App from all major brands at rates that are competitive.

Because orders are processed digitally, which enables greater buying efficiency and effectiveness, the B2B e-commerce space is rapidly expanding as online services have become increasingly important.

This is especially true for merchants and traders who are looking to facilitate their business needs because online services have become increasingly important.

Many companies are choosing to make their purchases of gadgets on instalment plans because of the steadily growing prices.

To the point where the demand for purchasing electronics with instalments has skyrocketed, with mobile phone and electronic device instalments in Egypt totalling EGP 4.9 billion (US$ ) during the first five months of 2022, as stated by the Financial Regulatory Authority. In other words, the demand for purchasing electronics with instalments has reached an all-time high.

To assist their retailers in expanding their businesses, Mazaya plans to provide them with monetary assistance in the form of financial services and support. These will include a selection of credit facilities and flexible payment terms based on the retailers’ previous payment records.

Furthermore, Mazaya will assist their retailers in easily managing their financials by providing collection and payment services.

With the end objective of presenting Egypt as a major centre for technology, Mazaya will continue to provide merchants and retailers with improved and more efficient services to assist them in the facilitation and expansion of their respective companies.

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