Kuzlo, a B2B marketplace that connects FMCG small retailers with wholesalers in their area, offering full transparency on product availability and prices, has raised an undisclosed amount from Nama Ventures in its pre-Seed fundraising round.
“Digitalisation is becoming the main driver for the transformation of many industrial sectors and the B2B marketplace in Egypt has just started its journey towards a digital future. Kuzlo is helping small retailers shift into the new future challenges and support them to strengthen their business value using new digital trends of e-commerce and e-finance in the near future,” said Ayman Elgarem, co-founder and CEO of Kuzlo.
“Part of our investment thesis at Nama is to look for great teams that are disrupting traditional businesses leveraging technology. This had become most evident in the supply chain in the grocery space in Mena. Ayman, Mohammed Gebril, Bassem, and their great advisor Tarek are true examples of a complementary team with deep knowledge in the industry, technology expertise, and operational excellence to take a shot at this space in Alexandria. We have no doubt that this team is on to something special and we are honoured and privileged to be this sole pre-seed investor and backer,” said Mohammed Alzubi, founder and managing partner of Nama Ventures.
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A Look At What The Startup Does
Kuzlo was founded in March 2021 by four co-founders, Ayman, Tarek, Bassem, and Gebril, with a primary focus on offering better customer service and earning customer trust in delivery times in Alexandria.
The FMCG market is evolving as a result of increased competition from megastores and chains, which are putting pressure on traditional supermarkets and grocery stores. With the help of technology, KUZLO provides FMCG companies with a better supply network to ensure commercial success.
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Kuzlo B2B marketplace Kuzlo 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 write