E-payment.. A New feature in Fatura to become an integrated logistics platform in the food market

Egypt-based Fatura, which is a B2B e-commerce platform connecting FMCG wholesalers to retailers & a digital lending platform for small merchants, announced expanding its services to 10 governorates across the country. In addition to reaching 10,000 grocery shops and kiosks across all regions in Egypt including Greater Cairo, Alexandria, Delta, Upper Egypt as well as the Canal Zone.

A few months ago, Fatura raised a 7 digit USD figure in a Seed round led by Disruptech, Egypt’s first fintech-focused VC Fund, with the participation of EFG EV, Cairo Angels.  The company plans to use this investment in expanding its services to 20 governorates during 2021. In addition to reaching 100,000 grocery shops and kiosks in the next two years.

“We are sending a strong message to the FMCG community; our asset-light business model is set to grow fast, very fast. We reaffirm our belief that what the Egyptian market needs is bridging the technology gap and optimizing the utilization of existing infrastructure, rather than investing in a new capital-intensive one” Hossam Ali, Fatura’s CEO.

Fatura is now negotiating with several unnamed e-payments companies and financial institutions to allow retailers to pay for their orders electronically through its platform. This negotiation is part of the company’s plan to expand its operations, and to transform into an integrated logistics platform in the food market during the first quarter of 2021.

“From the moment a retailer places an on-credit order on Fatura’s app, the full process is managed digitally covering order delivery & confirmation, cash collection as well as settlement with suppliers. We have already started our pilot and the indicators are very positive” Hossam commenting on the technology of lending.