News & Trends

Egyptian startup Capiter Raises $33M In Just One Year

E-commerce websites have been dominating the market lately; most people have been using e-commerce platforms to cover their needs. Since most of the e-commerce platforms like Jumia, Noon, and Amazon –previously known as souq- serve the mass, there is one certain platform that serves sellers and merchants, this platform is Capiter.

Capiter is an e-commerce startup that connects merchants and brands together; in just one year, the startup has achieved a lot.

 

What To Know About Capiter

Capiter is a B2B e-commerce startup that targets manufacturers, brands, wholesalers, and retailers and brings them together on one platform.

The startup was launched in July 2020 by serial entrepreneurs Mahmoud Nouh and Ahmed Nouh. Mahmoud was a co-founder and a former COO of Egyptian ride-hailing unicorn Swvl. Capiter also gives access to the sellers, brands, and wholesalers to financial services.

A seller or a retailer can download the application and make their order easily and sometimes the platform offers a bonus credit.

Creating A Success Story In One Year

Major news was announced by Capietr today that proves that the startup has been doing a huge effort into the market.

Capiter has announced that it raised 33 million dollars series A in a matter of one year; the company reaches this number while doing major efforts to expand its services across Egypt and the region within 2022. The startup is Co-led by Quona Capital and MSA Capital alongside additional investors Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures.

It is worth mentioning that this news came 3 weeks after Swvl announced its potential through a SPAC deal at $1.5 billion, which makes Mahmoud Nouh the founder of two of the biggest startups in the region.

The Nouhs have brought a global team that brings the needed expertise to achieve the company’s goal.

Mahmoud Nouh said,

As a homegrown startup, we are proud to have built such a sophisticated solution in such a short amount of time, Our entire application can be easily customized to each buyer’s needs, providing profitable insights into locations, walk-in rates, best product types, sales volume and more. All of this adds up to a machine learning model that can actually help the merchant know which inventory items to purchase next. Combined with our value in providing merchants with access to financing through our local bank partnerships, we’ve created an economy-changing solution.

 

 

What Capiter Provides

The startup provides a platform for small, medium enterprise (SME) businesses that allows them to order a wide range of inventory. The platform also allows them to obtain delivery and access financing to facilitate the process.

Capiter also helps brands and manufacturers through smart technology and machine learning to gain important insights related to the market they serve so they can enhance their distribution strategies and increase efficiencies.

Ben Harburg, Partner at MSA Capital said,

SME supply chain inefficiencies are massive throughout the Middle East. We believe the key blocker is lack of working capital in the system. Capiter has built an asset-light way to aggregate retailers and suppliers and facilitate credit into the system, through a comprehensive multi-product offering such as commerce, credit financing, digital payments, bookkeeping, and inventory management for SMEs, leveraging on the ecosystem built by the local banks and financial institutions.

 

 

We have to say that with these efforts and investments, Capiter is expected to expand rapidly.

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