Fatura has secured a $3 million Pre-Series A fundraise, co-led by Sawari Ventures and Arzan VC, with participation from Egypt Ventures, EFG-EV, The Cairo Angels, and Khwarizmi Ventures. The startup had previously raised an undisclosed Seed round led by Distruptech.
Fatura launched operations in 2019 and was founded by Hossam Ali, Ahmed Anwar and AbdAllah Mohebeldin— later joined by Ahmed Al Bakary. The startup connects wholesalers and manufacturers with retailers in different industries and has been operating in the FMCG industry and it is currently piloting in other industries.
Hany Al-Sonbaty, Managing Partners at Sawari Ventures, commented on the investment “Fatura’s existing infrastructure has enabled them to expand their offerings to new customers. The team has demonstrated that they have the vision to identify new opportunities and the prowess and agility to implement and deliver. We are excited to become part of their journey.”
Hossam Ali, Fatura’s CEO, added “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 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 J. Zainal, Managing Partner of Arzan Venture Capital remarked “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.” Arzan Venture Capital recently received $1 million fund from ISSF.
This investment will gear Fatura to extend its services beyond e-commerce and digital lending to optimize the exchange of goods, money, and information in the B2B context while focusing on convenience and the different users’ experiences.
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