EGYPT – Teegara.com, the Cairo-based e-commerce startup successfully closes a five-figure pre-Seed follow-on funding round led by the Alexandria Angels Network, as well as angel investors from Saudia Arabia, Egypt, and the Netherlands.
Teegara is a B2B2C e-commerce marketplace founded in 2019 by Ahmad Kayyali and Nader Ibrahim, with Ahmed Samir as the first investor. It seeks to help everyone trade, starting with small stores and social e-commerce merchants.
Teegara intends to solve several major difficulties in the retail and procurement industries with its digital platform. To begin with, it streamlines the purchasing process by removing superfluous stages and middlemen that now raise prices and slow the purchasing process.
Second, Teegara enables both groups of users raise margins and increase sales by providing easy access between a vast pool of vendors and merchants, resulting in a beneficial influence on their bottom lines.
“Online and on-ground: anyone could trade, anytime, and realise profits.”Mr. Loay El Shawarby – Co-founder, Alex Angels
Teegara also seeks to empower new customers, particularly small businesses, by providing them with a credit line as well as financial services through a network of partners.
“Teegara is an e-commerce platform that aims to popularise and democratise the opportunity to trade at the retail, discounter, and wholesale distribution levels. Online and on-ground: anyone could trade, anytime, and realise profits,” said Kayyali.
Teegara is tapping into a huge potential market that has seen little to no disruption in recent years. Egypt’s household products market size exceeds EGP550 million, with over 1 million online merchants and hundreds of thousands of small retailers and kiosks.
“Online and on-ground: anyone could trade, anytime, and realise profits. The team is brilliant and their expertise is immense. Their combined talent and maturity would surely turbocharge Teegara to meteoric growth! On behalf of Alex Angels, I am happy to announce our joining of Teegara’s pre-seed round. We look forward to partaking in Teegara’s growth journey.”
Teegara aims to simplify the whole buying process for these businesses, offering them competitive prices, innovative payment methods, easy shipping and return procedures, as well as access to a large assortment of household products, plastics, kitchenware, detergents, makeup, and lingerie, directly from producers.