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Tuesday, 1 June 2021

zVendo closes seven-figure pre-series “A”

Egyptian e-commerce platform zVendo has raised a seven-figure USD pre-series “A” round with participation from local manufacturer Mobica as well as Gratus Holding, a vehicle owned in part by Bishoy Azmy, the CEO of Dubai-based ASGC Construction. The e-commerce SaaS solutions provider bills itself as a platform that lets “retailers build and manage their online and offline business through online stores, mobile apps and point-of-sale applications,” making it possible for users to sell online without needing to hire a software developer.

The company will use the proceeds to “add more capabilities to the platform” including “integration points for shipping and payments and for regional expansion in the GCC,” CEO and co-founder Tarek Bakry said in a statement (pdf).

Advisors: zVendo is represented by Venture, a department of Shahid Law Firm headed by Rehan El-Bashary.

Background: The company raised in March 2021 a six-figure USD seed round led by EFG EV Fintech with participation from a group of angel investors. The three-year-old company expanded this year into UAE and Saudi Arabia.

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