Ecommerce platform Sharwa completes US$2m pre-seed investment to build its platform

EGYPT – Sharwa, a social ecommerce platform, has announced the completion of a US$2 million pre-seed investment round to further build the technological platform and expand the team. Nuwa Capital and Hambro Perks Oryx Fund co-led the round, joined by many key angel investors. Founded in 2022 by Alaa Shalaby, Hassan Elshourbagi and Mohamed Hanafy, Sharwa offers customers low prices…

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B2B e-commerce platform MaxAB completes US$40m pre-series B equity transaction

NORTH AFRICA – MaxAB, a food and grocery B2B e-commerce and distribution platform that serves a network of traditional merchants in Egypt and Morocco, has announced the completion of a US$40 million pre-series B equity transaction to drive its development across the MENAP area. Silver Lake, the global leader in technology investing, through its Long Term Capital strategy; British International…

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E-commerce platform Kenzz secures US$3.5m to expand its business

EGYPT – Kenzz, an e-commerce platform bringing shopping to the masses in Egypt and the Middle East, has announced a US$3.5 million seed round to expand its product categories, broaden the product categories on its platform, acquire people, and invest in technology when it releases its app. Outliers Venture Capital, a MENA-focused venture capital firm located in the United States,…

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Social-commerce platform Tushop secures US$3m in pre-seed funding round

KENYA – Tushop, a Kenyan social-commerce platform that enables communities in Nairobi to buy groceries more cheaply with free delivery, has secured US$3 million in a pre-seed funding round. The round is aimed at growing Tushop’s team, investing in tech to make its platform as easy to use as possible and to further expand across Nairobi before rolling the service…

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Fintech startup Chari secures US$1m from Endeavor Catalyst to strengthen its expansion plan

MOROCCO – Chari, a B2B e-commerce and fintech startup, becomes the first Moroccan startup to receive US$1 million (10.9 million MAD) from Endeavor Catalyst, an investment fund that is part of the Endeavor network. Endeavor Catalyst’s investment is part of Chari’s Serie-A round. This funding round allows the Moroccan startup to strengthen its continental expansion and begin its shift to…

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Nigerian ecommerce startup SABI partners Vumele to launch its services in South Africa

SOUTH AFRICA – SABI, an early-stage start-up with ambitious plans to aid millions of merchants across Africa, Sabi, has opened an office in Johannesburg, South Africa to tap into the US$9 billion informal economy. Moreover, the Nigerian startup has partnered with Vumele, a South African technology platform, to extend its reach and services to South Africa’s informal economy. Sabi helps…

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Ecommerce platform Convertedin launches US$3m seed round to expand geographically

EGYPT – Convertedin, an Egyptian e-commerce marketing operating system, has launched a US$3 million seed round from worldwide and regional investors to establish operations in Brazil as well as grow its footprint in Egypt and Saudi Arabia. Merak Capital, based in Saudi Arabia, led this round, which also included 500 Global and MSAS. Convertedin will open its first office in…

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Ecommerce Elloe acquires rival Flo by Saada to accelerate its business growth

KENYA – Elloe, a conversational e-commerce business, has purchased rival Flo by Saada for an unknown amount in order to expand operations and enter new markets. Owen Sakawa founded Elloe, a revolutionary conversational commerce platform driven by AI that enables SMEs to conduct online transactions on any messaging network. Elloe will be able to accelerate its next stage of business…

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Ecommerce platform Sharwa completes US$2m pre-seed investment to build its platform 

EGYPT – Sharwa, a social ecommerce platform, has announced the completion of a US$2 million pre-seed investment round to further build the technological platform and expand the team.  Nuwa Capital and Hambro Perks Oryx Fund co-led the round, which was joined by many key angel investors.   “Throughout our conversations with Alaa, Hassan and Hanafy, we were impressed with each individually,”…

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Ecommerce company QNET launches first African training centre in Ghana

GHANA – QNET, an e-commerce based direct selling company, has established its first-ever training centre in the Sub-Saharan Africa region in collaboration with Botsumtwi Limited. Located in East Legon, Accra, this new training centre will see the company bringing world-class training workshops and educational programmes for its community of distributors to participate in to enhance their management skills, increase business…

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