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Sunday, 25 July 2021

E-commerce startup Taager receives USD 6.4 mn seed funding

Egyptian e-commerce startup Taager has secured USD 6.4 mn in a seed funding round, according to TechCrunch. The round was led by Africa-focused VC firm 4DX Ventures and also included participation from Raed Ventures, Beco Capital, Breyer Capital and private investors, including Careem co-founder Magnus Olsson.

Taager has now raised more than USD 7 mn from investors since launching in 2019. The company will channel the latest investment into its operations, including making new hires and expanding across the MENA region.

What is Taager? Taager is a B2B platform that connects online merchants and suppliers, supplying merchants with storage and shipping services as well as an integrated data-led digital infrastructure. Taager now has 5k merchants available on its platform, which contribute to a 40% m-o-m increase in Gross Merchandise Value, CEO Mohammed El Horishy said.

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