Talabeyah, a Cairo-based startup that provides B2B marketplace for food and groceries, has raised a seven-figure pre-Seed round from strategic angel investors. By allowing small retailers in Egypt to use Talabeyah’s digital platform to buy and manage their inventory, the company that manages a tech-driven supply chain model hopes to alleviate their pain points.
“This round will help scale the operations, further build our technology, and leverage the use of AI and machine learning algorithms. We will utilise the data to enhance the customer experience and drive efficiencies through the value chain and grow our team to better serve this market. We believe there is still a lot of value and innovation to be added to the different layers of this market to create a better ecosystem, and we are on a mission to do that,” Talabeyah’s CFO, Hamed Barakat said.
Investors seem to have been roped into this round due to Talabeyah’s team extensive experience in the FMCG industry. With an initial investment of only $180,000, the firm was able to build a capital-intensive business to a gross merchandise value of $6 million, earning annualized revenue of 66 times the amount invested.
A Look At What Talabeyah Does
Talabeyah, which was founded in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, has leveraged its supply chain model and purchase experience through building a customer-centric business.
Read also Four Reasons Why Contactless Payments Are Taking Over the World
“This is a highly fragmented market with multiple layers that leads to high inefficiencies and low service levels. Our aim is to disrupt and digitise this informal market by leveraging technology and an innovative supply chain.
“We are providing a tailored simple solution to a complex problem; making our clients one click away from their inventory with guaranteed next-day delivery, reliable customer service and a high service level, and giving the retailers the time to focus on growing their business and running their operations,” Co-founder and CEO of Talabeyah, Karim Nassef said.
Read also Binary Innovative Technology Solutions on a Drive to Support its Growth
“Our end-to-end model provides the FMCG suppliers with optimised cost to the service operation, as well as a bigger reach to retailers, direct marketing communication channels, and real-time data to enable them for better planning,” added.
Talabeyah B2B Marketplace Talabeyah B2B Marketplace
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 writer