Cairo’s Taager enlarges its funding to $6.4m seed for its social eCommerce platform | MENA startups, innovation, and tech news


Cairo’s Taager enlarges its funding to $6.4m seed for its social eCommerce platform

Cairo’s Taager enlarges its funding to $6.4m seed for its social eCommerce platform

Cairo-Egypt-based social eCommerce platform raised around $6.4M for its seed round on the 15th of July 2021. The company has 5 investors till now. During the seed round the participation of Raed Ventures, Beco Capital, Breyer Capital, and some individual investors including Careem’s Magnus Olsson were seen. This isBreyer Capital’s first investment in the MENA region which is making Taager’s total investmenttouch $7 m soon.

business akhbar

About the company:

Taager is a Cairo-Egypt-based social eCommerce platform. Founded in the year 2019, the platform permits merchants with end-to-end logistics. The platform is starting the Meesho of Egypt, permitting themerchants to sell online on their platforms. It enables users to sell their products on the website. The sellers can promote and share their products on different social media sites such as WhatsApp, Facebook, and Instagram. Once the orders are received, the merchants can upload them on the Taager site and the orders get shipped directly from there.

Mohamed Elhorishy is the co-founder and CEO of Taager and he stated that: “Small and medium-sized businesses are the engine of Egypt’s economy and we want to empower them with the best tools to drive their growth. In just over a year, we have built a huge body of data that does just that and we want to enable many more social entrepreneurs and online merchants to grow their businesses throughout Egypt and the MENA region.”

Taager Breyer Capital’s first investment in the Middle East & North Africa. It had invested in companies like Facebook, Spotify, and Etsy.

How Taager is making an impact?

While addressing the problems that the new merchants face, the CEO said: “Consider I’m an undergraduate, and I want to own my own e-commerce store. Where do I get the product from? How do I ship them, where do I store them? Where do I make the fulfillment, what about financing it, how am I going to deliver it? “They start utilizing their marketing skills. They do advertising, run campaigns, and once an order is fulfilled, the merchants will put it on our site and Taager fulfills the end-to-end cycle. This way, merchants, without any inventory or stock or cash, can start a business and scale it from one order to a thousand orders per day because Taager made it seamless for them,” said the CEO.

Taager, therefore, is making the lives of the merchants easier. The merchants have to find the customers and get the orders, everything else: the product, shipment, delivery is managed by the company itself. The site gives the sellers the freedom to choose the categorization. The sellers can choose from fashion to mobile accessories. Thus, providing a huge number of categories of products. The 2019 startup atpresent has 5,000 sellers and more than hundreds of suppliers.

Peter Orth, Co-Founder and Managing Partner at 4DX Ventures, said: “The Taager team have achieved very impressive results incredibly quickly, and also built one of the most impressive teams in the ecosystem. Their focus on quality and execution, and a very unique approach to empowering eCommerce entrepreneurs is a dominant combination. We’re thrilled to partner with the team in the next phase of the company’s growth.”

The startup wants to expand its occupancy all over Egypt and wants to increase its technology. The startup’s a good cause and it’s helping the merchants grow. The current competition of the company is with Algebra and Endure-backed Brimore.

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