Back to the complete issue
Sunday, 12 July 2020

Fatura raises USD 1 mn in funding round led by Disruptech

STARTUP WATCH- Egyptian e-payments platform Fatura has raised north of USD 1 mn in its first funding round led by Disruptech and with participation from EFG Hermes and Cairo Angels, the local press reports. Fatura CEO Hossam Ali said the company is well positioned to provide transparent pricing and delivery data services for the wholesalers and retailers it connects and is seeking to shore up its tech infrastructure.

Background: Disruptech, a USD 25 mn fintech fund set up by former Fawry CEO Mohamed Okasha, made its first six-figure USD sum investment in two Egyptian startups, Khazna for mobile financial services and supplier distribution platform Brimore, earlier this year.

CORRECTION- 13 July 2020

An earlier version of this story incorrectly spelled Fatura as Fatora, and had linked to the incorrect website. Fatura does not currently have a website. The original version of the story also said Fatura raised USD 1 mn in the funding round; the startup raised more than USD 1 mn.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.