Talabeyah, an Egyptian food and grocery B2B e-commerce startup, has raised a seven-figure pre-Seed round from angel investors.
The startup that manages a tech-driven supply chain model aims to alleviate the pain points of small retailers in Egypt, by allowing them to use Talabeyah’s digital platform to buy and manage their inventory.
Founded by Karim Nassef, Amr Abbas, Khaled Hussein and Adel Hodroj in July 2020, Talabeyah leverages its supply chain model and purchase experience through building a customer-centric business, due to its founders’ wide experience in the FMCG industry.
Co-founder and CEO of Talabeyah, Karim Nassef said: “This is a highly fragmented market with multiple layers that leads to high inefficiencies and low service levels. Our aim is to disrupt and digitise this informal market by leveraging technology and an innovative supply chain.
“We are providing a tailored simple solution to a complex problem; making our clients one click away from their inventory with guaranteed next-day delivery, reliable customer service and a high service level, and giving the retailers the time to focus on growing their business and running their operations.”
He added: “Our end-to-end model provides the FMCG suppliers with optimised cost to the service operation, as well as a bigger reach to retailers, direct marketing communication channels, and real-time data to enable them for better planning.”
Talabeyah’s team experience in this industry gave it a lot of advantages, as it was able to grow a highly capital-intensive business, achieving a gross merchandise value of $6 million with an initial investment of only $180,000, generating an annualised revenue of 66X the amount capital injected in the company.
Talabeyah’s CFO, Hamed Barakat commented on the news, saying: “This round will help scale the operations, further build our technology, and leverage the use of AI and machine learning algorithms.
“We will utilise the data to enhance the customer experience and drive efficiencies through the value chain and grow our team to better serve this market. We believe there is still a lot of value and innovation to be added to the different layers of this market to create a better ecosystem, and we are on a mission to do that.”
Recently, there has been an investment rush in the Egyptian b2b ecommerce marketplace industry. Startups like MaxAB, Cartona, and Capiter have raised funding. What this means is that there would be a lot of competition in this space.
