Taager, an Egyptian eCommerce platform that offers online merchants end-to-end logistics, announced on Thursday that it raised USD 6.4 Million in a seed funding round.
The seed round was led by 4DX Ventures, a Venture Capital firm that is focused on the Pan-African region. The participants of this funding round were Beco Capital, Raed Ventures, Breyer Capital, with some private investors, in which one was Magnus Olsson, co-founder of Careem.
This is the first-ever investment of Breyer Capital in the MENA region. This funding round will bring Taager total investment to more than USD 7 Million, since its inception.
Tanager claims that it will deploy the latest amount raised in scaling operations, and scale the footprints across MENA. It also seems to hire a new workforce in the upcoming time.
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 e-commerce entrepreneurs is a dominant combination. We’re thrilled to partner with the team in the next phase of the company’s growth.”
About Taager –
Having its headquarters in Cairo, Egypt, Taager is an eCommerce platform that lets online merchants meet with end-to-end logistics. It was initiated by Mohammed Elhorishy.
“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 fulfilment, what about financing it, how am I going to deliver it?” CEO Mohammed Elhorishy said to TechCrunch concerning the dilemma new merchants face.
Elhorishy argues that typically a merchant would need to meet different suppliers to strike deals before proceeding to do the same with shipping and last-mile delivery companies.
“With Taager, we can now see the trend of people who would never have been able to build businesses on their own, now using Taager and getting the exact outcome of the very painful processing they would have gone through if they went about it manually,” he added.
Taager has developed a B2B platform to offer a one-stop shop for the online supplier and merchants. The platform gives online suppliers and merchants access to a suite of integrated and backend services, from logistical and operational infrastructure such as shipping and storage, connecting sellers with wholesalers.
The company uses data science and AI to let first-time sellers begin and scale their business, online with a comparatively low risk. It provides a pricing structure that is transparent and an enhanced product selection process, which lets sellers focus on sales, while Tagger handles every end-to-end operation.
The company claims to use AI and data science to enable first-time sellers to start and scale their online business with relatively low risk. It offers a transparent pricing structure and an enhanced product selection process, freeing online sellers to focus on running their business while Taager handles end-to-end operations.
“They start utilising their marketing skills. They do advertising, run campaigns, and once an order is fulfilled, the merchants will put it on our site and Taager fulfils 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.
For more extensive analysis and Market Intelligence reports, feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
[…] Next Article […]