Egypt-based e-commerce startup and B2B fashion marketplace, Gahez raises a pre-Seed round of $2 million
Gahez, an Egypt-based e-commerce startup and business-to-business fashion marketplace, recently raised $2 million in funding.
The pre-Seed round was attended by Disruptech Ventures, Egypt Ventures, Tanmeyah (an EFG Hermes company), Afropreneur fund, and other strategic angel investors.
Gahez launched as an online marketplace at the end of 2021 with the goal of transforming the wholesale distribution platform by streamlining the process between retailers and manufacturers, thereby improving the online trading cycle.
Furthermore, Gahez offers retailers on-credit facilities to help with collection, while third-party aggregators handle cash settlements with suppliers.
The Gahez platform assists manufacturers and brands in focusing on making the right products and growing their business by providing powerful sales, marketing, and analytics tools.
Since Gahez’s launch in 2021, over 15,000 brick-and-mortar stores, 142 manufacturers, and over 4,000 SKUs (Gahez’s SKU is a wholesale set of sizes and colors) have been on-boarded onto their platform, with a focus on online sellers, street vendors, and street vendors.
“We are on a mission to revolutionize the way retailers shop for their stores by relieving them of the stress of managing and sourcing,” said industry veteran and co-founder/CEO Wael Olama when asked about Gahez’s expansion and growth. The Egyptian/African apparel market, according to our estimates, is largely untapped and fragmented, making it an ideal location for Gahez to grow and establish itself.
Gahez’s regional expansion and growth will be accelerated in response to strong demand from neighboring African countries.
Gahez intends to invest the newly acquired funds in cutting-edge technology and the recruitment of top-tier personnel in order to meet the needs of all of its target customers and to prepare for future growth.
