Egypt-based B2B digital marketplace Fatura, on Monday, announced that the company has expanded across the 10 governorates of Egypt in a move to reach over 10,000 retailers. The startup addresses the pain points of the FMCG industry will now feature in Egypt’s governorates including Greater Cairo, Alexandria, Delta, Upper Egypt, as well as the Canal Zone.
Founded last year by Hossam Ali, Ahmed Anwar, and Abdullah Mohebeldin, later joined by Ahmed Al Bakary, Fatura raised 7-figure seed funding round from Disruptech, and participation from EFG EV and The Cairo Angels back in July.
Speaking of the development for Fatura, Hossam Ali, CEO of Fatura, in a statement said,
“We are sending a strong message to the FMCG community, that our asset-light business model is set to grow fast, very fast. We reaffirm our belief that what the Egyptian market’s needs is bridging the technology gap and optimising the utilisation of existing infrastructure, rather than investing in a new capital-intensive one.”
Commenting on Fatura’s offering for retailers that lets retailers place on-credit orders from suppliers on Fatura app, Ali added,
“From the moment a retailer places an on-credit order on Fatura’s app, the full process is managed digitally, covering the order delivery and confirmation, cash collection as well as settlement with suppliers. We have already started our pilot and the indicators are very positive.”