Egypt’s On Market e-grocery marketplace raises $215K in pre-seed funding to empower grocery retailers

Egypt’s On Market e-grocery marketplace raises $215K in pre-seed funding to empower grocery retailers

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Cairo – ON Market, an e-grocery marketplace has successfully raised USD215k from regional angel investors led by Yasser AlGhamdi. The funding will support the startup in expansion across major cities, Cairo, Alexandria, Tanta, Mansoura, among others, in addition to scaling their tech solutions.

Founded in June 2020 in Tanta, by Moatasem Marzouk, Seif Yasser, Ahmed Najjar, and Moataz Marzouk, and graduated from the AUC Venture Lab’s acceleration program in 2021, ON Market empowers grocery retailers with tech solutions to build and sustain online commerce. Simultaneously, they connect customers through their app with grocery retailers surrounding them enabling them for the first time in the market to order from multiple retailers in a single order.

Moatasem Marzouk, the co-founder and CEO, explains the unique value they provide to their customers, “Our customers have trust and loyalty to brands and retailers that cannot be easily replaceable. We develop our products in-house to connect them with the retailers they trust and love, where they can follow their latest offers, pricing updates, and product availability. For the first time in the market, we allow them to order from multiple stores by placing only one order and getting it delivered all at once. We’ve surveyed a sample