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Monday, 14 June 2021

Fatura raises USD 3 mn pre-series A round

Egyptian B2B marketplace Fatura closed a USD 3 mn pre-series A funding round co-led by Sawari Ventures and Arzan VC, the company said in a press release (pdf). Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures also participated in the round. The company will use the funds to extend its activities to provide further services to manufacturers, wholesalers and retailers in the B2B sector, the company said. These are likely to include digital payments on its platform — an endeavor it hinted at last year — as well as expanding into new regional markets.

Fatura’s marketplace was launched in 2019 to connect wholesalers and manufacturers with retailers in different industries, and mostly operates in the fast-moving consumer goods industry. Fatura’s first funding round in July 2020 saw the startup raise USD 1 mn in a round led by Disruptech.

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