Egyptian e-commerce startup Teegara raises pre-seed funding round

0

Cairo-based e-commerce startup Teegara has closed a five-figure pre-seed follow-on investment round to fund its early growth.

Founded in 2019, by Ahmad Kayyali and Nader Ibrahim with first investee Ahmed Samir, Teegara is a B2B2C e-commerce marketplace that aims to help anyone to trade, starting with small retailers and social e-commerce merchants.

Through its digital platform, Teegara streamlines the buying process and facilitates links between a large pool of vendors and merchants.

The startup’s pre-seed funding round is led by the Alexandria Angels Network, as well as angel investors from Saudia Arabia, Egypt, and the Netherlands.

“This is the era of B2B and social e-commerce, with millions of online merchants and small retailers. This market is eager for the kind of value that Teegara provides,” said Kayyali.

Co-founder of Alex Angels Loay El Shawarby said Teegara was perceived by many angel investors to be the rising star of B2B2C e-commerce in Egypt, and soon the region at large.

“The team is brilliant and their expertise is immense. Their combined talent and maturity would surely turbocharge Teegara to meteoric growth! On behalf of Alex Angels, I am happy to announce our joining of Teegara’s pre-seed round. We look forward to partaking in Teegara’s growth journey,” he said.

Share.

About Author

Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

Comments are closed.