Mazaya, Egyptian B2B e-Commerce Marketplace Secures a $5m Pre-seed Round
The B2B e-commerce platform Mazaya, based in Egypt, has raised $5 million in pre-seed capital to develop its operations there and enter other markets and industry verticals.
Mazaya, a company that was founded in December 2021, gives retailers and merchants of electronic products and home appliances more leverage by allowing them to quickly and effectively buy inventory for their stores through its app. They can also obtain value-added services thanks to it.
Since its founding, the firm has completed 30,000 orders, collaborated with over 6,000 shops, and generated a gross merchandise value of $15 million USD. Currently, the platform offers more than 1,000 SKUs.
Raya Trade & Distribution, a division of Raya Holding for Financial Investments, led the $5 million pre-seed investment, which will be used to build the business both domestically and abroad. The startup is also thinking at entering different industries.
“While enabling all retailers and merchants, we are humbled and eager to keep revolutionizing the electronics distribution business and value chain. We are also overjoyed to have strategic investors like Raya who have a wealth of knowledge in logistics, distribution, and retail of electronics. We will be able to fast scale our business and enter new markets outside of Egypt thanks to the monies raised. Before the end of the year, we intend to begin offering our services in Nigeria, according to Mazaya co-founder and head of operations Amir Aboul Fotouh.
Additionally, Mazaya intends to provide its retailers with financial services and support to help them expand their businesses by providing a range of credit facilities and flexible payment terms based on their payment history, as well as by making it simple for them to manage their finances by providing collection and payment services.
Bassem Megahed, CEO of Raya Trade and Distribution, said, “As pioneers in trade and distribution throughout the years, we are happy to engage in this ambitious platform that revolutionized the sector by offering the best quality of services to merchants in partnership with its success partners.”
“The platform offers convenient support to merchants, especially small merchants who do not receive adequate services, with the ability to scale their business through a superior level of service and a wide range of electronic devices from all international and local brands at the click of a button.”
