MaxAB raises $40 million in Series A

MaxAB raises $40 million in Series A

Egypt-based B2B e-commerce platform MaxAB, has raised $40 million in a Series A round, led by RMBV, with participation from the IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, and Endeavor Catalyst as well as MaxAB's existing investors, Beco Capital and 4DX Ventures.

The latest round brings total funding raised by MaxAB to more than $45 million since its seed round in September 2019.

MaxAB looks to support the growth of e-commerce in Egypt, particularly in its most underserved regions by directly connecting retailers to suppliers.

The company plans to expand its physical footprint across the rest of the region, grow its talent pool as well scale its business verticals including new supply chains and embedded finance solutions.

Since its inception in 2018, MaxAB has served 55,000 retailers, processed more than 1 million orders, and created more than 1,600 direct jobs in the process. It further claims that it has grown more than 5x year-on-year.

Press release

MaxAB, the largest Egyptian B2B e-commerce platform that serves food and grocery retailers, has secured $40M in a Series A round, led by RMBV, a prominent impact investor in North Africa. The round included participation from the IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, and Endeavor Catalyst as