Brimore has raised $3.5 million in a Pre-Series A round. The round was led by Algebra Ventures with participation from DisrupTECH, Vision Ventures, and returning investors, 500 Startups, and Flat6labs.
Mohamed Abdulaziz, Ahmed Sheikha, and Mahmoud Refaay founded Brimore in 2017. The startup helps small and medium manufacturers reach their consumers through a network of direct sellers. In fact, it has sellers in 27 governorates, who sell thousands of products including packaged foods, personal care, and household goods. Most of Brimore’s direct-sellers are women who collectively reach over a million consumers. The company provides a triple win situation for local SMEs, direct sellers and consumers alike.
Tarek Assaad, Algebra Ventures’ Managing Partner says, “We believe that the large base of consumers in Egypt is best served through customized technology solutions. Brimore is developing world-class technology for our local market which will open up tremendous untapped potential in the distribution of goods.”
The company plans to use the new funds to support its accelerating growth and strengthen its infrastructure. It will continue to invest in operations, technology and talent. Brimore plans to invest more in product development, operational infrastructure, and growth momentum.
This investment comes almost a year after the startup secured $800K in seed funding co-led by Algebra Ventures and Endure Capital. Brimore is the first and fastest-growing social commerce platform in the Middle East and Africa.
Brimore plans to raise a Series A round within a year.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.