Fatura, the online FMCG wholesale platform, has raised $3m in a pre-series A funding round. The company, which was founded in 2019, now covers more than 25,000 retailers and 500 wholesalers across 20 governates in Egypt.
Fatura’s funding round was led by Sawari Ventures, Arzan VC, Egypt Ventures, EFG-EV, The Cairo Angels and Khwarizmi Ventures. It will use the investment to create offer new services, especially on digital payments and monetization of its data, and for expansion into other countries in the region.
Fatura connects wholesalers and manufacturers with retailers, primarily in FMCG, although it is exploring other sectors. It currently “stocks” more than 10,000 SKUs. It currently has an annual GMV (Gross Merchandise Volume) of just over EGP1bn ($63.7m) – i.e. the sales value of goods sold through the platform.
Recent developments include the introduction of retail finance for partner retailers, to help them buy stock, ease pressure on working capital, and expand. Fatura plans to develop more digital payment initiatives and also focus on data analytics services, which will become a revenue stream in their own right (which similar businesses such as TradeDepot in Nigeria already do).
Fatura’s CEO, Hossam Ali, estimates that digital B2B players in the FMCG space capture less than 5% of the market. He has also said that he wants the business to “stay asset-light” and to have a strong focus on acquisition (i.e. signing up new retailers).
