Tech in Africa
Brantu is a Swedish company with headquarters in Cairo and Stockholm. The company initially closed a $1.2 million seed funding round from Swedish firm Helhjärtad Finans AB early in the year for its Elprices platform. In new developments, reported on Menabytes, Brantu has raised a seven-figure Serie A round led by Sawari Ventures.
The company is laser-focused on creating a convenient and seamless shopping experience for its buyers and fashion brands. Their debut featured a women’s assortment catalog displaying trendy apparel on their mobile platform as well as appealing content, quick deliveries, and free returns. Their onboarding is highly optimized by offering users several choices to their onboarding process.
Brantu was formed in 2016 by Mohamed Rizk and Fredrik Granström, the Swedish-Egyptian duo focused on the Middle East. Thus far the brad has witnessed astronomical growth, even doubling in size to achieve $69 billion by 2020
Mohamed Rizk, the founder, and CEO of Brantu detailed how the company is “changing” Egyptian consumer habits. Before their arrival, fashion consumers had to buy goods through cross-border websites resulting in long delivery times and often goods that do not cater to the local market.
Sawari Ventures Partner, Wael Amin pointed out how Brantu is the perfect example of the “acceleration in digital adoption”.
Bantu has experienced a strong bump in online activity during the Covid-19 era. Several of the leading online fashion platforms are experiencing solid growth and are shifting their offline presence to online platforms that offer lean and efficient ways of selling their goods.
