Capiter, a Cairo-based B2B e-commerce platform bringing wholesalers, dealers and FMCGs on the same interface, has secured US$ 33 million in a Series A funding round co-led by Quona Capital and MSA Capital on 13 September 2021.
Investors: The latest investment round featured Quona Capital and MSA Capital as the lead investor with participation from Shorooq Partners, Savola Group, Foundation Ventures, Derayah Venture Capital and Accion Venture Lab.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards expanding all over Egypt, North Africa, and the Middle East markets.
Brought to existence in 2020 by Ahmed Nouh and Mahmoud Nouh, Capiter’s e-commerce platform allows enterprises to order inventory for their shops and other credit services. The interface also aids producers and brands to obtain insights regarding the markets they cater to, allowing them to avail accurate data to improve their efficiency and enhance distribution tactics. More than 50,000 retailers have utilized Capiter’s platform to obtain products for their hotels, cafes, mom-and-pop shops, catering services, restaurants, and electronic shops to date. Its application marks over 6,000 SKUs from 1,000 distinct dealers. In addition, the firm allows businesses to get admittance to working capital using its app by collaborating with regional financial institutions.
What the Founder has to say: “Being an indigenous firm, it is elating to have structured an advanced solution in a brief period. Our complete app can be effortlessly tailored according to the needs of every user, offering excellent judgement into the volume of sales, best product class, walk-in prices, locations etc. Everything amalgamates into a machine learning paradigm that can assist the dealer in understanding which products must be bought in the future. We have built an economy-transforming solution through a mix of our value in delivering dealers the access to credit through our collaboration with regional banks.”- Mahmoud Nouh, Co-Founder and CEO of Capiter.
What the Investors have to say: “Capiter’s deep-rooted credit paradigm, merged with its proficiency and robust customer interaction, can radically affect the financial ecosystem of small and medium businesses, aiding them to improve their revenue which assists groups in sustaining. Quona’s financial assistance increases our presence in MENA and develops our current B2B e-commerce portfolio. We have strong faith in Capiter’s long-term growth journey to transform the retail industry in the Egyptian market.”- Monica Brand Engel, Co-Founder and Managing Partner at Quona Capital.
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!