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.