Fatura raises $3 million in pre-series A round - MENA startups, innovation, and tech news

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Fatura raises $3 million in pre-series A round
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Fatura raises $3 million in pre-series A round

Are you also keen to know how a start-up established in 2019 itself raised this much of amount so efficiently and quickly? What they precisely did and get the ladder of success? Then just stick by the article carefully to know the real secret behind it.

An Egyptian-based B2B marketplace Fatura, a digital platform that connects fast-moving consumer goods manufacturers and wholesalers to retailers, has escalated its $3 million pre-series A funding. The round was led by Sawari Ventures, Arzan VC, Egypt Ventures, EFG-EV, The Cairo Angels, and Khwarizmi Ventures.

Knowing Fatura: A rising technology platform

As per wuzzuf.net, Fatura is a technology platform transforming and restructuring the FMCG (fast- moving consumer goods) industry in Egypt & Africa. Fatura as a start-up is a two-year-old, founded by Hossam Ali, Ahmed Anwar, and AbdAllah Mohebeldin is now leading the way to become the 1 st – ever application serving the full FMCG traditional trade cycle.

A year ago, the founders were joined by FMCG industry veteran Ahmed Al Bakary, who has worked in companies such as Proctor & Gamble, Hershey, Kraft Food, and Kellogg’s. Fatura, very efficiently tackles the key points in the traditional FMCG cycle offering a digital platform through which FMCG manufacturers and wholesalers can connect explicitly to retailers in a lucid and faster way.

To digitalize the experiences, Fatura improves the working capital for retailers by enabling on-credit purchasing. The company purchase wealth of data and advanced AI models to instantly assess the creditworthiness of each retailer on the network, Gaining vital adhesion in Cairo and Giza majorly. Moreover, Fatura is on its way to becoming the leading technology platform in the FMCG industry across the middle-east region.

As per thecapitalquest.com, Fatura is the sixth Egyptian start-up in the e-commerce realm to raise funding this year. The other five, however, are determined more on the business-to-consumer vertical. These include two in furniture e-tailing-Homzmart and Kemitt; and one each in grocery (Appetito), electronics (Tejarra), and fashion (Dress Code).

Press release:

According to a press release (source www.wamda.com) Hany Al-Sonbaty, the Managing Partners at Sawari Ventures commented that " Fatura's existing infrastructure has enabled them to expand their offerings to new customers," adding to it he said, " the team has demonstrated that they have the vision to identify new opportunities and the prowess and agility to implement and deliver. We are excited to become part of their journey." Hossam Ali, Fatura’s CEO, also commented on the news saying, " There is a great opportunity in the B2B space in Egypt, that is growing as the players are becoming digitally mature and ready.

Collectively, the digital B2B players in the FMCG space capture less than five percent of the market and there is a long way to go. Our conviction is to stay asset-light, be inclusive to all the industry stakeholders and to attract the best-on-ground acquisition force across the country."

Hasan J. Zainal, the Managing Partner of Arzan Venture Capital in addition to his fellow partners also commented that " Being part of Fatura's success story is exciting for us. The FMCG industry is in need of Fatura’s product, which will solve many challenges faced by small retailers. Also, its fintech angle complements the core product and enables retailers to scale their business further with less working capital constraints.”

The way forward

As per my opinion, Fatura has built a powerful base and infrastructure that empower it to monetize its data and services. The start-up's forthcoming plans instill new services that endorse the verified players in its environment including manufacturers, wholesalers, and retailers. In its inclusive policy, multiple digitization initiatives have a focal point on digital payments and regional advancement into the new markets.

This investment will equip Fatura to expand its services beyond e-commerce and digital granting to enhance the exchange of goods, money, and information in the B2B context while focusing on convenience and the different users' experience. I hope you got the secret behind the two-year-old start-up. It’s very much straightforward and lies in one’s effort.

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