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The Cairo-based E-commerce startup and B2B F&B marketplace Talabeyah food and grocery B2B e-commerce, has successfully raised a seven-figures in its latest funding round. The Pre-Seed round was led by a network of strategic angel investors.
Founded in 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, Talabeyah manages a Tech-driven supply chain model that aims to alleviate the pain points of small retailers in Egypt, allowing them to use Talabeyah’s digital platform to buy and manage their inventory. The startup has leveraged its supply chain model and purchase experience through building a customer-centric business, driven by founders’ wide experience in the FMCG industry.
As most recently recorded in our Egypt Q3 2021 Venture Investment Report, driven by a 46%YoY growth in number of transactions closed, E-commerce startups in Egypt closed the highest number of rounds compared to peer industries by Q3 2021. With major rounds closed by the likes of MaxAB and Homzmart drove then unprecedented 855% YoY growth of capital invested in E-commerce startups, ranking the industry as the second-most funded industry in Egypt after Transport & Logistics by Q3 2021.
Talabeyah’s end-to-end model provides FMCG suppliers with optimized cost to the service operation, as well as a bigger reach to retailers, direct marketing communication channels, and real-time data to enable them for better planning. Co-founder and CEO of Talabeyah, Karim Nassef highlighted the potential of Talabeyah’s offering“This is a highly fragmented market with multiple layers that leads to high inefficiencies and low service levels. Our aim is to disrupt and digitize this informal market by leveraging technology and an innovative supply chain. We are providing a tailored simple solution to a complex problem; making our clients one click away from their inventory with guaranteed next-day delivery, reliable customer service, and a high service level, and giving the retailers the time to focus on growing their business and running their operations.”
Talabeyah’s team experience in this industry gave it a lot of advantages, as it was able to grow a highly capital-intensive business, achieving a gross merchandise value of $6M with an initial investment of only $180K, generating an annualized revenue of 66X the amount capital injected in the company. Talabeyah’s CFO, Hamed Barakat elaborated Talabeyah’s growth plans as they acquire new funds “This round will help scale the operations, further build our technology, and leverage the use of AI and machine learning algorithms. We will utilize the data to enhance the customer experience and drive efficiencies through the value chain and grow our team to better serve this market. We believe there is still a lot of value and innovation to be added to the different layers of this market to create a better ecosystem, and we are on a mission to do that.”
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