Tech in Africa
The Egypt startup closed a 7 figure deal that will rekindle their desire to lead the continent as the top B2B e-commerce platform.
Fatura has set it sights on becoming the largets e-commerce platform on the continent riding on the success of their Seed round led by Disruptech. Fatura is a B2B e-commerce platform linking FMCG wholesalers to retailers. The platform also offers digital lending financial services to small merchants. Disruptech is the first Venture Capital fund in Egypt that specifically focusses on the fintech sector. The round attracted participation from EFG EV, Cairo Angels.
Ahmed Anwar, Hossam Ali, and AbdAllah Mohebeldin are the initial founders, before Ahmed Al Bakary joined their team. Mr. Ahmed Al Bakary brought a wealth of experience having run Massfood and BiscoMisr in former CEO positions.
Fatura is a mobile application that is easy to use and gives its users access to a wide network of pre-vetted wholesalers.
The e-commerce hopes to leverage their asset-light business model to position themselves as the largest e-commerce platform in the continent. They help wholesalers offload their underutilized assets through technology. That way they help in correcting supply side inefficiencies for all their stakeholders from wholesalers, manufacturers, and retailers.
Who are the co-founders?
Hossam Ali formerly worked at McKinsey as a consultant and now works as the CEO. He is quoted by Magnitt pointing out how Egypt has over 5000 wholesalers and any capital intensive approach cannot solve their supply inefficiencies. “we are on a mission to curate a network of 200-250 wholesalers across the country, digitally transform the way they work.”
Ahmed Anwar, is the COO and a career supply chain consultant. He believes, “We will be the first player to unlock the opportunity of digitizing the lending cycle.”
AbdAllah Moheb El-Din, the CTO of Fatura points out the value of market data analysis and AI-powered decision making. The platforms help FMCG manufacturers to improve their data-driven decisions and provide unprecedented transparency on stock levels and prices. He describes the role Fatura plays as, “Fatura is stepping up to regulate this chaos, which will improve efficiencies, turnover, and profitability for FMCG players.”
