Openner, Egypt’s first “Venture Builder” model, has injected a 6-figure USD seed investment into electronics e-commerce website tejarra.com. Openner will provide not just finance, but also in-depth, hands-on technical assistance, scientific experience, and extra resources to the platform’s marketing and sales operations, as well as its market success and positioning, as part of the agreement.
“In an already fast paced world, with challenges that rise every day, both consumers and retailers around the region are seeking new and innovative shopping and marketing solutions respectively. After closely monitoring both local and regional trends, tejarra.com team identified an unfilled space on the ecommerce platforms that would act as our entry point,” said Islam Erfan, Founder and CEO of tejarra.com, elaborating that “the partnership with Openner will enable us to streamline our market success and solidify our position among other market players.”
“tejarra.com was born out of the current global challenge to deploy bespoke marketing solutions for our partners, and a consistent and enjoyable shopping experience for our shoppers. While focusing on electronics, mobiles and mobile accessories, we are always on the hunt for the latest trends and gadgets to keep our clients updated and facilitate their shopping experience,” Erfan added.
Why The Investor Invested
Openner’s Founder and General Partner, Ash Rofail, stated his excitement about investing in tejarra.com and his confidence in the high returns expected from this round of funding. He further said “Tejarra.com is specialising only in the category of electronics that is gaining a huge momentum in the online sphere, attracting an increasing base of onlineshoppers.”
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“The founders’ deep domain, market and distribution knowledge and experience combined with their long-standing relationships with wholesalers in a niche market is what helped them optimise their reach to consumers, while providing a best price and best service buying experience.” Rofail added.
In Egypt, Openner is launching a new unique venture model for businesses. The company is a “Venture Builder” with three streams: it creates new businesses, invests in existing ones, and collaborates with enterprises to develop innovative business models.
“We believe in what the Egyptian market has to offer, its broad tech-savvy youth segment and their promising and pioneering ideas. This incentivised us to take our first steps in the Middle East, through Egypt, driven by the rising understanding and rapid growth of the entrepreneurship ecosystem in the country.” Rofail stated.
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A Look At What The Startup Does
Tejarra.com, which launched in January 2021 and has over 50 vendors selling over 18,000 products, is a marketplace where wholesalers, suppliers, and vendors sell electronic consumer goods such as refrigerators, TVs, printers, wearables, computers, tablets, and mobile phones, as well as fitness and personal care equipment.
Tejarra.com, which aims to sell EGP 100 million in appliances, electronics, and gadgets by the end of the year, focuses on B2C and B2B solutions for selling appliances, electronics, and gadgets in a dedicated and specialized marketplace. Buyers and sellers will benefit from focusing on this specific area.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write