ⓘ Featured image: Brantu co-founders, Fredrik Granström (L) and Mohamed Rizk
Egypt-based fashion e-commerce platform Brantu, on Sunday announced that the company has raised a seven-figure Series A round, led by Sawari Ventures.
The company said that it will deploy the fresh funds to grow its user base, increase its verticals and capture a bigger market share within the growing fashion and lifestyle industry in Egypt.
Launched last year by Mohamed Rizk and Fredrik Granström, Brantu is an online business-to-consumer (B2C) marketplace that sells clothing, bags, footwear and accessories. The startup aims to connect local and global fashion brands to Egyptian consumers.
Brantu currently has an assortment offered exclusively for women sourced from 70 brands, and claims to have acquired over 20,000 customers in its first year of operations.
Speaking on the development, Mohamed Rizk, CEO of Brantu, in a statement said,
“We are changing the Egyptian consumer habit of buying fashion online. Before Brantu fashion, consumers bought through international/cross-border websites, facing the issues of long delivery times and customs or local general merchandise platforms whose assortment and appeal do not cater to fashion consumers. We are providing speedy delivery, trendy products and appealing content to Egypt’s mass population, serving millions of fashion shoppers,”
Speaking of Brantu, Wael Amin, a partner at Sawari Ventures, said,
“Brantu is easily the best example of the tremendous acceleration in digital adoption that we have witnessed across all sectors during the pandemic. We have full faith in Brantu’s management team’s ability to take the company to market leadership.”