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Cairo-based B2B2C e-commerce Teegara secures five-figure pre-seed follow-on funding round led by Alex Angels

10 months 4 weeks ago

Teegara, the Cairo-based e-commerce startup successfully closes a five-figure pre-seed follow-on funding round led by the Alexandria Angels Network, as well as angel investors from Saudia Arabia, Egypt, and the Netherlands.

Founded in 2019, by Ahmad Kayyali and Nader Ibrahim with first investee Ahmed Samir, Teegara is a B2B2C ecommerce marketplace with a unique positioning as it's aim to help anyone to trade, starting with small retailers and social e-commerce merchants.

Through its digital platform, Teegara aims to solve several major issues in the retail and procurement industries. Firstly, it streamlines the buying process by eliminating unnecessary steps and middlemen that are currently hiking up prices and slowing the buying process.

Secondly, by facilitating easy access between a large pool of vendors and merchants, Teegara helps both categories of users increase margins and boost their sales, ultimately impacting their bottom lines in a positive way.

Furthermore, Teegara aims to empower new users, small merchants in particular, by offering them access to a credit line, as well as financial services through a series of partners.

Needless to say, Teegara is tapping into a huge potential market that has seen little to no disruption in recent years. Egypt’s household products market size exceeds 550 million EGP, with over 1 million online merchants and hundreds of thousands of small retailers and kiosks.

Teegara aims to simplify the whole buying process for these businesses, offering them competitive prices, innovative payment methods, easy shipping and return procedures, as well as access to a large assortment of household products, plastics, kitchenware, detergents, makeup, and lingerie, directly from producers.

Mr Ahmad Kayyali, the founder and CEO of Teegara, said that "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".

The co-founder of AlexAngels, Mr Loay El Shawarby reflects on the deal: “Perceived by many angel investors to be the rising star of B2B2C e-commerce in Egypt and soon the region at large, Teegara is an e-commerce platform that aims to popularize and democratize the opportunity to trade at the retail, discounter, and wholesale distribution levels. Online and on-ground: anyone could trade, anytime, and realize profits. 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 much forward to partaking in Teegara’s growth journey”.

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