EGYPT – B2B e-commerce platform Fatura, has succeeded in raising requisite funds to support its ambitious plans to expand footprint in Egypt.
Fatura, connects FMCG wholesalers to retailers and a digital lending platform for small merchants.
Founded by Hossam Ali, Ahmed Anwar and AbdAllah Mohebeldin, Fatura was established to meet the demand of FMCG retailers by providing a simple-to-use mobile application that allows them to access a network of carefully vetted wholesalers.
The startup leverages the underutilised assets already owned by wholesalers and uses technology to resolve existing inefficiencies in Egypt’s FMCG supply chain.
In addition to the one-stop-shop offering of more than 1,500 available SKUs, Fatura also has plans to offer working capital loans to its retailers, leveraging the data derived from transactions to analyse retailers’ behavior and credit worthiness.
Fatura’s objective is to become the largest e-wholesaler in Egypt and Africa, having raised a seven-figure seed funding round led by Disruptech, the startup is on its way of achieving this objective.
According to a report by Disrupt Africa EFG EV and Cairo Angels also participated in Fatura’s seed funding round.
Hossam Ali, Fatura’s co-founder and chief executive officer (CEO) noted that Egypt has more than 5,000 wholesalers, adding that existing inefficiencies in the supply chain adversely affect their business.
He explained that his company was “on a mission to curate a network of 200-250 wholesalers across the country, digitally transform the way they work, and enable them to collectively lead the FMCG distribution business nationally.”
Mohamed Okasha, Disruptech’s managing partner, said his firm was excited to lead Fatura’s investment round.
“We firmly believe in the opportunity that lies in the digitisation of the wholesale-retail relationship and sees Fatura playing an essential role to transform the market and we are committed to helping Fatura achieve its mission,” he said.
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