Cairo-based Brimore closes $25mln Series-A funding

Cairo-based Brimore closes $25mln Series-A funding

The Egyptian social commerce platform, Brimore, has closed a Series-A funding round of $25 million.

The round was led by the International Finance Corporation (IFC) and Endure Capital. Egypt’s leading e-payment gateway, Fawry also participated in the funding along with Flourish and Endeavor Catalyst Fund, the company said in a statement to the media.

The company was founded in 2017 by Mohamed Abdul Aziz and Ahmed Sheikha as a social distribution platform that harnesses a mobile application to allow local suppliers to penetrate the market through a network of individual distributors.

According to the company’s website, 92 percent of its sellers are stay-at-home mothers looking for a source of income.

To its users, Brimore promises custom solutions of online and offline sales channels.

The company, whose revenues increased 400 times over the last three years, has so far secured a network of almost 75, 000 resellers that cover 27 Egyptian cities. With seventy percent of its suppliers based outside Greater Cairo, Brimore’s operations have a special focus on rural and remote areas.

“In the past three years, we’ve focused on building a smart and reliable infrastructure that enables the masses to do their commerce businesses, wherever they are, and whatever they have,” said Mohamed Abdulaziz, Brimore’s