Egypt’s Fatura raises seven-figure seed to provide inventory and lending solutions to grocery stores

Egypt’s Fatura raises seven-figure seed to provide inventory and lending solutions to grocery stores

Cairo-based B2B ecommerce marketplace Fatura has raised seven-figure (USD) seed round led by Egyptian fintech-focused VC Disruptech, it announced in a statement today to MENAbytes, without disclosing the exact size of the investment. The round was also joined by other local investors including EFG EV & Cairo Angels. The

Founded in 2019 by Hossam Ali, Ahmed Anwar, Abdullah Mohebeldi, and (later joined by) Ahmed Al Bakary, Fatura connects 'curated' wholesalers in the Fast Moving Consumer Goods (FMCG) space with the retailers through its mobile application, enabling them to order the inventory for their stores. It claims to have over 1,500 SKUs on its platform.

The startup that aims to become the largest 'e-wholesaler' in Egypt & Africa says that it uses an asset-light model and that is what, it says, differentiates it from the other players operating in the market.

The statement by Fatura (link to their app - they don't have a website) explained that it leverages the underutilized assets already owned by the wholesalers to resolve existing supply chain inefficiencies for all relevant stakeholders including retailers, wholesalers, and manufacturers.

To put it in simple words, Fatura has taken the marketplace route - using which it neither stores the inventory nor delivers it