Cairo-Based eCommerce Startup Teegara.com Raises Funds
Teegara.com, an Egypt-based eCommerce startup has raised an undisclosed bridge round that was led by Alexandria Angel Network from several countries. The area Teegara.com wants to work on is difficult as it lies between eCommerce on one hand and traditional merchants and distributors on the other, neither being categorised as pure eCommerce nor traditional merchants. […]
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Teegara.com, an Egypt-based eCommerce startup has raised an undisclosed bridge round that was led by Alexandria Angel Network from several countries.
The area Teegara.com wants to work on is difficult as it lies between eCommerce on one hand and traditional merchants and distributors on the other, neither being categorised as pure eCommerce nor traditional merchants.
Teegara.com has a goal of being able to connect vendors directly to merchants through their digital ordering platform and mobile apps Among the many other benefits that are offered is that merchants and vendors use it to grow their sales while lowering the cost of the product on them by overlooking the middlemen between the vendor and the merchant.
Ahmad Kayyali, founder and CEO Teegara.com, said: “Teegara obtained a bridge round of financing from Alex Angels with the participation of investors from Saudi Arabia, Egypt, and Jordan. This round will be utilised in its expansion plan of the company by adding more verticals to its platform and hiring more sales and operations forces in addition to enhancing its technical capabilities. The company is preparing for its “Seed round” of financing during the second half of 2022 with VCs from the region.”
Alex Angels Investor, Ramy Gamal said, “Pleased and excited to participate in Teegara’s new investment round following my participation in their first investment round last year. This comes as a reflection of my belief in the founders’ team vision, dedication, and the real socioeconomic value Teegara is offering to its customers. I’m so optimistic about seeing significant growth in Teegara after this round and inviting VCs to stay tuned and keep an eye on this startup.”
