Egyptian B2B E-Commerce Platform Fatura Secures $3M Pre-Series A
The new investment will help Fatura diversify its services and go beyond e-commerce and digital lending, and look towards optimising the exchange of goods, information and money.
Egyptian business-to-business (B2B) e-commerce platform Fatura has secured $3 million in a Pre-Series A round led by Sawari Ventures and Arzan VC, which also involved participation from Egypt Ventures, fintech EFG Hermes and Egypt Ventures (EFG-EV), the Cairo Angels, and Khwarizmi Ventures.
The new investments will help Fatura diversify its services and go beyond e-commerce and digital lending, working towards optimising the exchange of goods, information, and money within the B2B context.
Hossam Ali, Fatura's CEO, laid out the company’s place and vision within the wider ecosystem, saying "there is a great opportunity in the B2B space in Egypt, that is growing as the players are becoming digitally mature and ready. Collectively, the digital B2B players in the FMCG [fast-moving consumer goods] space capture less than 5% of the market and there is a long way to go. Our conviction is to stay asset-light, be inclusive to all the industry stakeholders and to attract the best on-ground acquisition force across the country."
Hasan Zainal, the Managing Partner of Arzan Venture Capital remarked that “being part of Fatura's success story is exciting for us. The FMCG industry is in need of Fatura’s product, which will solve many challenges faced by small retailers. Also, its fintech angle complements the core product and enables retailers to scale their business further with less working capital constraints."
Launched in 2019 by Hossam Ali, Ahmed Anwar, and Abdallah Mohebeldin, Fatura links wholesalers and manufacturers with retailers across various countries. Since its launch, it has been operating in the FMCG industry and is currently piloting in other industries.
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