The startup aims to utilise the newly acquired funds to buttress its regional expansion and improve its platform.
Egypt-based eCommerce SaaS solution provider, zVendo, has secured a Pre-Series A funding round led by Mobica and Gratus Holding, which the startup aims to channel into its ambitious regional expansion plans, as well as to enhance the platform.
Founded in 2018, zVendo is the brainchild of CEO Tarek Bakry. The extensive E-commerce platform caters to the ever-growing E-commerce market in Egypt and the MENA region at large. zVendo was developed to simplify and streamline the online sales journey through various localized channels with minimal technical knowledge needed.
“The investment from Mobica and Gratus will be used in two tracks,” CEO and co-founder, Tarek Bakry, elaborated. “The first is adding more capabilities to our platform including integration points for shipping and payments and the second track being our regional expansion in the GCC area.”
The investment comes hot on the heels of another undisclosed investment in March from EFG EV Fintech, marking a fruitful period for a startup that has found plenty of opportunity in the wake of a pandemic that has accelerated the need for e-commerce.