How this Egyptian Startup Maintained an Impressive Fundraise
Egyptian e-commerce startup GoodsMart launched in West Cairo in 2014 with the aim of increasing the number of online shops available to customers for grocery and home supplies. This unique model put in the hands of Egypt’s citizens, the power to compare prices and get the most value from their money.
Having proven its traction in the market, GoodsMart received a series B funding of $750,000 from Algebra Ventures in 2019. Following the raise, the startup continued to improve on its over 100 suppliers and launched a marketplace section as well as other features to enhance the household shopping experience.
It’s safe to say this expansion did not go unnoticed by investors as GoodsMart today announced a $3.6 million funding round by Sawari Ventures. The e-commerce startup has stated that it will be using the newly raised fund to expand its team and stamp its footprint in West Cairo.
“We started in 2014 with a vision to re-invent grocery shopping. Our biggest success is the emotional bond we managed to create with our clients – listening to them was and will always be the secret recipe,” said Amr Fawzi, chief executive officer (CEO) and founder of GoodsMart.
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