Egyptian E-commerce Startup Teegara Secures Five-figure Pre-Seed Round
Cairo-based e-commerce startup Teegara.com has announced it raised five-figure funding in a pre-Seed funding round led by the Alexandria Angels Network and angel investors from Saudi Arabia, Egypt, and the Netherlands.
Teegara is a B2B2C e-commerce startup founded in 2019 by Ahmad Kayyali and Nader Ibrahim, with Ahmed Samir as the first investor. Through its marketplace platform, Teegara helps local and small traders solve commercial problems in the retail and procurement industries.
The platform also enables users to raise margins and increase sales by providing easy access between a vast pool of vendors and merchants, resulting in a beneficial influence on their bottom lines, and empower new customers with a credit line as well as financial services through a network of partners.
Ahmad Kayyali, the founder and CEO of Teegara speaking on the funding said that the platform is eager to provide more value to its users.
“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.com provides.
“Teegara is an e-commerce platform that aims to popularise 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” said Kayyali.
Loay El Shawarby co-founder of Alex Angels also said “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 popularise 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 forward to partaking in Teegara’s growth journey,”.
Through the funding, Teegara aims to make the entire buying process easier for these companies by providing them with competitive prices, innovative payment methods, and simple shipping and return procedures.