The company wants to further eliminate factors that contribute to price increases within purchasing processes.
Cairo-based e-commerce platform, Teegara, has raised five-figure funding in a pre-Seed round led by Alexandria Angels Network and angel investors from Saudi Arabia, Egypt, and the Netherlands. It was not disclosed whether the five-figure funding was in the EGP or USD currency.
An e-commerce platform that aims to popularise and democratise trading opportunities at the retail, discounter, and wholesale distribution levels, Teegara was co-founded in 2019 by Ahmad Kayyali and Nader Ibrahim.
Essentially, the startup is a business-to-business-to-customer (B2B2C) e-commerce platform connecting producers, merchants, and customers together in order to simplify and streamline the purchasing process and increase profitability.
Egypt’s household products market is estimated at a value of over EGP 550 million, incorporating over 1 million e-commerce merchants and thousands of small retailers. Teegara, therefore, aims to tap into the market and simplify the buying process for companies with its competitive prices, innovative payment methods, easy shipping, and returns procedure.
“The team is brilliant and their expertise is immense,” says co-founder of Alexandria Angels Network Loay El Shawarby. “Their combined talent and maturity would surely turbocharge Teegara to meteoric growth.”
With the new funding under its belt, Teegara hopes to expand its operations to continue to eliminate the unnecessary steps and middlemen that contribute to price increases and slow down purchasing processes.