Tanmeyah for Microfinance Services, EFG Hermes Holding’ subsidiary and provider of microfinance solutions, acquired Fatura.
Fatura is a tech-driven B2B platform avaliable in 22 governorates in Egypt that brings together retailers, manufacturers, and wholesalers in one place.
The platform offers its users a multitude of innovative services, ranging from a marketplace with live product viewing and price transparency to B2B buy now pay later services and marketing support services.
“Tanmeyah’s acquisition of Fatura, backed by Egypt Ventures and its accelerator EFG EV FinTech, comes in line with the Government of Egypt’s efforts to increase the involvement of, and to empower, the private sector, as a major driver of comprehensive and sustainable economic growth,” Rania A. Al-Mashat, Minister of International Cooperation, said.
Tanmeyah’s geographical presence and broad client base will help Fatura expand its network of merchants and venture into new sectors of the B2B market, while its solid financial position and access to funding will help bolster Fatura’s growth.
“Together with Tanmeyah, we aim to fundamentally change how B2B works in Egypt, radically facilitating the way trade, financing and payments are done. Through this acquisition, Fatura will strongly benefit from Tanmeyah’s broad client base and solid financial position to unlock more opportunities,” Hossam Ali, CEO of Fatura, said.
Following the acquisition, Tanmeyah will own 100% of Fatura Netherlands and the founders of Fatura will continue to manage the business as part of the Tanmeyah management team while becoming shareholders in Tanmeyah.
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