Egyptian startup Fatura to add e-payments, aims to scale in early 2021
STARTUP WATCH- Fatura to add e-payments, aims to scale in early 2021: B2B e-commerce platform Fatura is in talks with several unnamed e-payments companies and financial institutions to allow retailers to pay for their orders electronically through its platform, co-founder and CEO Hossam Ali (LinkedIn) told the press. The company currently collects only cash payments from FMCG retailers, which use its app to restock, Ali added. Adding e-payments comes as part of a bid to become an “integrated logistics platform” by 1Q2021, according to Ali. Fatura recently announced an “aggressive” expansion plan after raising more than USD 1 mn in July in its first funding round led by Disruptech.
What does Fatura do? Fatura is a B2B marketplace that allows FMCG retailers to place orders from suppliers using a mobile app. The app also helps find the best prices, collects inventory data to build supply chain analytics, and allows retailers to sign up for extended payment plans.