The Egypt-based electronic e-commerce platform, Tejarra has raised a six-figure US dollar seed funding round to help it scale more quickly.
Launched in January 2021 by Islam Erfan, Tejarra is an online B2B and B2C electronics platform for over 50 partner wholesalers, who ate currently offering over 18,000 products ranging from TVs, mobile phones, fridges, etc.
The six-figure investment was secured from a US-based VC firm and venture builder, Openner. Which will be used to expand the operations of the startup.
Openner which launched its accelerator last year in Cairo will also provide Tejarra with technical support, scientific expertise, and additional resources for the platform’s marketing and sales operations.
Commenting on the funding round, Erfan noted that with new challenges springing up now and then, customers are always on the lookout for new and innovative shopping and marketing solutions. This is why “after closely monitoring both local and regional trends, the Tejarra team identified an unfilled space on the e-commerce platforms that would act as our entry point.”
“Tejarra was born out of the current global challenge to deploy bespoke marketing solutions for our partners and a consistent and enjoyable shopping experience for our shoppers. While focusing on electronics, mobiles, and mobile accessories, we are always on the hunt for the latest trends and gadgets to keep our clients updated and facilitate their shopping experience,” he added.
Founder and general partner of Openner Ash Rofail spoke of his confidence in the great potential returns of the investment in Tejarra.
“The founders’ deep domain, market and distribution knowledge and experience combined with their long-standing relationships with wholesalers in a niche market are what helped them optimize their reach to consumers while providing the best price and best service buying experience.”
“Tejarra is specializing only in the category of electronics that is gaining a huge momentum in the online sphere, attracting an increasing base of online shoppers,” he said.
Tejarra plans to achieve EGP 100 million in sales by the end of 2021, and the startu[ believes that by focusing on B2B and B2C sales of appliances, electronics, and gadgets in a specialized market, it would be able to achieve it. Focusing on this niche vertical better serves both buyers and sellers alike.