MaxAB, a leading B2B e-commerce lrtrading platform in Egypt, has raised $40 million in a Series A funding round led by RMBV and Keneo Capital. The funding will be used to expand MaxAB’s operations, build out its technology infrastructure, and increase its product offerings.
MaxAB was founded in 2018 by Belal El-Megharbel and Mohamed Ben Halim with the goal of providing a comprehensive e-commerce platform for small and medium-sized businesses in Egypt. The company’s platform connects local farmers and food manufacturers with retailers and restaurants, streamlining the supply chain and reducing costs.
Since its launch, MaxAB has experienced rapid growth ifsptv and has become a major player in the Egyptian e-commerce market. The company currently serves more than 55,000 retailers and restaurants across Egypt and has established partnerships with over 1,600 suppliers.
The laest funding round is a significant milestone for MaxAB and demonstrates the company’s strong growth potential. Speaking about the funding, MaxAB co-founder Belal El-Megharbel said, “We are thrilled to have the support of RMBV and Keneo Capital as we continue to build out our platform and expand our operations. This funding will enable us to accelerate our growth and provide even more value to our customers.”
RMBV is a leading venture capital firm based in giveme5 Europe that has invested in a range of successful startups, including Glovo, Rappi, and Zomato. Keneo Capital is a Paris-based investment firm that specializes in investing in technology startups in emerging markets.
By partnering with RMBV and Keneo Capital, MaxAB has gained access to a network of experts, investors, and mentors who can provide valuable insights, resources, and support as the company continues to grow. This partnership is expected to accelerate MaxAB’s growth and help the company achieve its goal of becoming the leading B2B e-commerce platform in Egypt.
The latest funding round also highlights the growing interest in the e-commerce market in emerging markets such as Egypt. With a population of over 100 million and a rapidly growing economy, Egypt represents a significant opportunity for companies looking to 123chill expand their operations in the region.
MaxAB is well-positioned to take advantage of this opportunity, as its platform provides a range of benefits to both suppliers and retailers. Suppliers can access a larger market of retailers and restaurants, while retailers can benefit from lower prices, better quality products, and faster delivery times.
In conclusion, MaxAB’s latest Series A funding round is a significant manytoons milestone for the company and demonstrates its strong growth potential. The funding will enable the company to expand its operations, build out its technology infrastructure, and increase its product offerings. With the support of RMBV and Keneo Capital, MaxAB is well-positioned to become the leading B2B e-commerce platform in Egypt and drive innovation in the field of e-commerce in emerging markets.