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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.”

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