Taager, the Egyptian social ecommerce platform empowering online merchants with end-to-end logistics, has secured $6.4M in a Seed round, led by 4DX Ventures, a pan-Africa focused venture capital firm. The round included participation from Raed Ventures, Beco Capital, Breyer Capital, and a number of key private investors including Magnus Olsson. This is Breyer Capital’s first investment in the MENA region and the round brings Taager’s total investment to date to more than $7M since launching in December 2019.
Taager is a social e–commerce platform that provides online sellers and traders with a complete suite of backend and integrated services, from operational and logistical infrastructure such as storage and shipping to an online marketplace to host their products, connecting sellers with wholesalers. The company uses technology, AI and data science to enable first time sellers to start and scale their online business seamlessly with relatively low risk.
It offers a transparent pricing structure and an enhanced product selection process, freeing online sellers to focus on running their business while Taager handles the end to end operations. The company’s Gross Merchandise Value (GMV) has grown at a rate of around 40% month-on-month since it launched.
The new capital raised will be deployed to expand Taager’s rapidly growing operations and presence across Egypt and worldwide. The company also plans to scale and boost its technology and expand its world-class talent pool. The company is currently actively hiring across all levels throughout the company.
Commenting on Taager’s growth ambitions, Mohamed Elhorishy, Co-Founder and CEO at Taager, said: “Small and medium sized businesses are the engine of Egypt’s economy and we want to empower them with the best tools to drive their growth. In just over a year, we have built a huge body of data that does just that and we want to enable many more social entrepreneurs and online merchants to grow their businesses throughout Egypt and the MENA region.
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