Cairo-based e-commerce startup Teegara.com has successfully closed a five-figure pre-Seed follow-on funding round led by the Alexandria Angels Network, as well as angel investors from Saudia Arabia, Egypt, and the Netherlands.
With Ahmed Samir as the first investor, Teegara, a B2B2C e-commerce marketplace was founded in 2019 by Nader Ibrahim and Ahmad Kayyali. It seeks to help everyone trade, starting with small stores and social e-commerce merchants.
Through its digital platform, Teegara intends to solve several difficulties in the retail and procurement industries with its digital platform. To start with, it streamlines the purchasing process by removing superfluous stages and middlemen that raise prices and slow the purchasing process.
The company also enables both groups of users raise margins and increase sales by providing easy access between a vast pool of vendors and merchants, resulting in a beneficial influence on their bottom lines.
Teegara is tapping into a huge potential market that has seen little to no disruption in recent years. Egypt’s household products market size exceeds EGP550 million, with over 1 million online merchants and thousands of small retailers and kiosks.
“Teegara is perceived by many angel investors to be the rising star of B2B2C e-commerce in Egypt and soon the region at large,” co-founder of Alex Angels, Loay El Shawarby said.