Ecommerce platform Jumia partners fintech vaIU to provide new online payment channels

EGYPT – Jumia, an e-commerce platform, JumiaPay the fintech electronic payments platform, and valU the Buy-Now Pay-Later (BNPL) fintech platform in the Middle East and North Africa, have signed agreements to enable valU to become a payment solution via Jumia and JumiaPay. The partnership allows JumiaPay as a payment gateway to manage the payment operations of valU consumers by linking valU and JumiaPay for electronic payment services. The deal will commence with an offer that clients will benefit from while shopping and paying in instalments over 9 months interest-free through…

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ECommerce startup Gozem extends its activities in Cameroon

CAMEROON – Gozem, a West African-based eCommerce startup which offers ride-hailing, logistics, food delivery, and fintech services, has launched is set to launch its taxi-booking app in Cameroon. Gozem was founded in 2019 by Emeka Ajene and Raphael Dana, operating an app that offers transportation, logistics, e-commerce and financial services in primarily-francophone African countries. In addition to increasing competition in the market for applications that provide various financial, transportation, and e-commerce services, the startup hopes to expand the number of users of its platform, which is now believed to be…

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Ecommerce startup ShipBlu rises US$2.4m venture funding to expand its services

EGYPT – ShipBlu, a Cairo-based ecommerce fulfillment startup backed by Y-Combinator, has raised US$2.4 million in venture funding to help it expand its service offering and coverage across Egypt. Nama Ventures, a MENA-focused venture capital firm, led ShipBlu’s seed round, which also included 1984 Ventures, Orange Ventures, Orange Telecom’s venture capital arm, Starling Ventures, and other VC firms and angel investors. “Roughly 56% of the time when someone in Egypt places an order online, they don’t even have a delivery date,” said co-founder and CEO, Ali Nasser. “After you place…

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Logistics company DIGGIPACKS acquires ecommerce solutions provider FWRUN

EGYPT – DIGGIPACKS, a Saudi Arabia-based last-mile delivery and logistics services provider, has acquired FWRUN, an Egyptian ecommerce solutions provider, in order to extend its footprint in the Egyptian market. DIGGIPACKS raised US$400,000 in pre-Seed fundraising from YOUXEL Ventures, OQAL, and other Saudi angel investors in April. DIGGIPACKS, founded by Hasan Jabarti in 2020, brings together last mile and fulfillment firms to make it easier for retailers to transport their packages. Riyadh-based Diggipacks began operating in the Kingdom of Saudi Arabia in the sphere of e-commerce and retail in 2020,…

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Amazon launches officially in Egypt, replaces Souq.com

EGYPT – Amazon, a global online shopping platform, officially launched Amazon.eg to replace Souq.com in the local market following the inauguration of its warehouse in Egypt. The launch came a month after the online shopping titan had announced its intention to have an official presence in Egypt. It clarified that the website will feature millions of items from local and international brands across a range of categories including electronics, apparel, home and kitchen, grocery, and Amazon products and Devices like Kindle e-readers. Existing Souq.com customer credentials, wish lists, orders, delivery…

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E-commerce startup Omnibiz raises US$3m seed round to expand into other markets

NIGERIA – Omnibiz, an e-commerce startup, has raised US$3 million in a seed round to expand into other markets. V&R Africa, Timon Capital, and Tangerine Insurance led Omnibiz’s seed round. Lofty Inc., Musha Ventures, Sunu Capital, Launch Africa, and Rising Tide Africa were also part of the round. It brings the total amount invested by the corporation to US$4 million. Rustagi also revealed that the startup received Seedstars funding and will join in the accelerator’s growth program. “One of the key things we intend to do is to bring on…

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E-commerce startup ShipBlu raises pre-seed funding round led by Nama Ventures

EGYPT – ShipBlu, an Egypt e-commerce shipping and fulfillment startup, has announced that it has raised an undisclosed amount in a pre-Seed funding round led by Nama Ventures, with participation from Y Combinator and other prominent angel investors from San Francisco, CA and Saudi Arabia. The platform that is redefining the e-commerce shipping and fulfilment experience in Egypt, also announced that it has been accepted into Y Combinator’s Summer 2021 Batch. ShipBlu was founded in October 2020 by Ali Nasser, Abdelrahman Hosny and Ahmed El Kawass. Ali, the CEO, comes…

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Ecommerce platform Maxab raises US$40m Series A round to expand to other markets

EGYPT – Maxab, a Cairo-based B2B ecommerce platform, has announced that it has raised US$40 million in a Series A round led by RMBV, a North African-focused impact investor. IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, and Maxab’s previous investors Beco Capital and 4DX Ventures all participated in the purchase. The startup intends to use the fresh funding to grow across Egypt’s major cities by the end of the year, followed by other markets in the region. According to the Egyptian firm, the funds will be utilized…

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E-commerce marketplace Fatura secures US$3m pre-series A round to expand its services

EGYPT – Fatura, a Cairo-based ecommerce marketplace, has secured US$3 million in a pre-Series A round led by Sawari Ventures and Arzan Venture Capital. The round also included participation from Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures. In July 2020, the company raised an unknown amount of money in a seed round. With this financing, Fatura will be able to expand its services beyond e-commerce and digital financing, allowing it to optimize the interchange of products, money, and information in the B2B environment while concentrating on ease and user…

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Ecommerce startup Gozem expands its ride hailing services to Gabon

GABON – Gozem, a West African-based eCommerce startup which offers ride-hailing, logistics, food delivery, and fintech services, has launched in Gabon with a taxi-booking app. This is the first time Gozem will spread its operations outside West Africa. As it were, its focus is currently on Francophone African markets. Residents of Libreville, Gabon’s capital, can now access digital ride-hailing services on the Gozem app, as the service is not yet available outside the city. Gozem’s operations initially spanned only cities in the Republic of Benin and Togo — two West…

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