Tech in Africa
Egypt-based B2B e-commerce Gahez just completed a $2 million pre-seed round led by Disruptech Ventures alongside participation from Egypt Ventures, Tanmeyah, Afropreneur fund, and other angel investors. The funding will go towards building world-class technology and hiring top talent that will help Gahez cater to the targeted customer segments and future expansion plans.
Gahez was founded in 2021 by Wael Olama and Mohamed El-Zahaby and operates as an online marketplace connecting retailers with manufacturers providing improved online trading cycles. Gahez is now working to expand its footprint across 16 governates. The startup plans to onboard 15,000 retailers, 142 manufacturers, and 4,000 SKUs. Gahez’s SKU offers a wholesale set of sizes and colors on their platform while remaining focussed on brick-and-mortar stores, street vendors, and online vendors.
Reflecting on the growth Gahez co-founder Wael Olama said, “We believe that the Egyptian/African apparel market is untapped and widely fragmented, which provides Gahez with the perfect opportunity.”
The market size for apparel in Egypt is about $24 billion presenting a huge market for B2B e-commerce players. The country exports $2 billion worth of apparel to the US and EU markets presenting a huge growth potential in Africa.
As a B2B fashion marketplace, Gahez looks to transform the wholesale distribution platform by streamlining the process between retailers and manufacturers through improved online training cycles. Through a data-driven approach, Gahez provides online on-credit facilities to retailers simplifying the collection process of handling cash settlement with suppliers through 3rd-party aggregators.
Disruptech’s Managing Partner Mohamed Okasha said, “We are excited to support Gahez’s business expansion plan through our board seat and strategic input.”
Source: Wamda
