Egyptian B2B e-commerce platform MaxAB has secured US$40 million in Series A funding to help it expand across the country and the broader MENA region. Founded in 2018 by Egyptian and Libyan entrepreneurs Belal El-Megharbel and Mohamed Ben Halim, MaxAB is a B2B e-commerce platform that connects food and grocery retailers to suppliers in Egypt’s most under-served geographies. So far it has supplied more than 55,000 retailers, fulfilled more than one million orders, and grown more than 5x year-on-year. Having secured US$6.2 million in seed funding in 2019, MaxAB has now raised a US$40 million Series A round to help it expand. We look forward to supporting MaxAB in its next phase of development as they continue delivering on growth and innovation,” he said.

Source: The North Africa Journal July 06, 2021 06:00 UTC