Back to the complete issue
Tuesday, 4 January 2022

Fashion marketplace Gahez gets USD 2 mn pre-seed investment

Fashion marketplace Gahez has raised USD 2 mn in a pre-seed funding round led by Disruptech Ventures, the company announced in a press release. Egypt Ventures, EFG Hermes’ Tanmeyah, LoftyInc Capital’s Afropreneurs fund, and other angel investors also participated in the round.

About the company: Launched in mid-2021, Gahez operates an online B2B marketplace that connects fashion retailers with suppliers. The company also provides retailers with credit facilities and facilitates settlement with suppliers. Gahez now operates in 16 governorates in Egypt, and currently has more than 15k retailers and 142 manufacturers on its platform.

Where the money is going: The startup will use the funds to expand its team and develop its tech infrastructure.

What they said: “We are excited to support Gahez’s business expansion plan through our board seat and strategic input,” said Mohamed Okasha, managing partner at Disruptech. “The team is paving the way to digitising the region’s fashion wholesale market. With this investment, I am certain that they will be able to fulfil their targeted milestones.”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.