Egypt’s E-commerce Startup Talabeyah Raises $1.1 million Funding
Egypt’s e-commerce startup Talabeyah has raised $1.1 million in funding. The raise comes from a group of angel investors to help boost its strong early growth. The startup operates a food and grocery B2B e-commerce and distribution platform. Their portfolio includes small groceries from new and existing consumer goods brands across Egypt.
Talabeyah was founded in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj is a personalised simple solution for retailers. The platform allows them to manage their inventory and stock with the most competitive pricing in the market.
The combined experience of the founders in the FMCG industry, played a pivotal role in the utilisation commerce startup’s supply chain model. Besides gaining knowledge to develop a customer-centric firm. Consumers can place orders round the clock, and get deliveries on time.
Talabeyah began with an initial investment of roughly US$180,000. The platform produced a total gross merchandise value of US$6 million in its first 15 months of business. And now the firm has already banked another US$1.1 million because it needs to develop even faster. An impressive feat for an endeavour in Egypt’s e-commerce startup ecosystem.
“This is a very fragmented industry with several layers that leads to high inefficiencies and low service standards”, said Nassef, CEO of Talabayah. The platform’s aim is to disrupt and digitise this informal market by equally leveraging technology and an innovative supply chain.
The brand’s end-to-end model further provides FMCG suppliers with optimised cost. It also provides larger access to retailers, direct marketing communication channels, and real-time data to enable better planning.
Talabeyah’s CFO, Barakat remarked, “This round will help scale the operations, further build our technology, and leverage the use of A1 and machine learning algorithms. We will utilise the data to enhance the customer experience drive efficiencies through the value chain and grow our team to better serve this market”.
Barakat concludes that there are many values and innovations to include in different layers of this market. This will aid in creating a better ecosystem, which the platform is on a mission to get that done.
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