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  • 29-09-22

    Mazaya Egypt B2B marketplace gains USD5M in pre-seed phase

    (MENAFN) Mazaya, an Egypt-located B2B e-commerce marketplace, gained USD5 million in a pre-seed phase, as stated by an announcement released on Tuesday.

    It also mentioned that the backing phase was directed by economic investment company Raya Trade and Distribution.

    The firm is going to use the capitals to grow its work in Egypt in addition to go into additional markets and extra verticals.

    Amir Aboul Fotouh, Mazaya co-founder, declared that “The funds raised will allow us to quickly scale our operations and expand to other markets beyond Egypt, we have plans to launch our services in Nigeria before this year-end.”

    The Mazaya app offers stores as well as sellers of electronic goods and home appliances the capability to secure inventory for their shops from all main brands.

    Bassem Megahed, chief executive of Raya Trade and Distribution, noted in the announcement that “The platform conveniently supports merchants, particularly 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.”

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