The news comes after the q-commerce startup raised a seed round worth $500K.
Having seen impressive early growth in operating only in the northern coastal town of Alexandria, Egyptian online grocery startup, Tawfeer, has announced its intention to expand across the country, following a $500K seed round, with participation from Alexandria Business Angels Network.
The investment comes off the back of the startup’s participation in AUC VLab acceleration programme, which has marked it as one of the country’s most promising startups, one that is looking to push q-commerce into a grocery retail market worth over $50 billion. Launched in 2019, the startup believes it can fill in the gaps.
“The future of online grocery retail in Egypt is expected to grow exponentially, leaving room for many players to fulfill different needs,” said co-founder and CEO, Ahmad Fasseeh. “Retail grocery consumers seek three main criteria: variety, convenience, and price. Tawfeer Market tries to offer the right formula that fulfills consumer needs in the majority of their orders, offering the most commonly ordered 4,000 SKUs, including fresh and frozen food, at the lowest price within 60 minutes,” he added.
Tawfeer allows users to browse and purchase groceries through its app, with orders then delivered through its fulfillment arm. As it stands, the app boasts over 100K downloads and the startup has claimed a steady two-digit month-on-month increase in its orders.