Teegara.com, an Egypt-based e-commerce business focused on household and FMCG products, has secured an undisclosed bridge round led by Alexandria Angel Network from a number of countries.
“Teegara obtained a bridge round of financing from Alex Angels with the participation of investors from Saudi Arabia, Egypt, and Jordan. This round will be utilized in its expansion plan of the company by adding more verticals to its platform and hiring more sales and operations forces in addition to enhancing its technical capabilities. The company is preparing for its “Seed round” of financing during the second half of 2022 with VCs from the region,” Ahmad Kayyali, founder and CEO of Teegara.com, said.
Why The Investor Invested
Alex Angels Investor, Ramy Gamal reflects “Pleased and excited to participate in Teegara’s new investment round following my participation in their first investment round last year. This comes as a reflection of my belief in the founders’ team vision, dedication, and the real socioeconomic value Teegara is offering to its customers. I’m so optimistic about seeing significant growth in Teegara after this round and inviting VCs to stay tuned and keep an eye on this startup.”
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A Look At What Teegara Does
Teegara.com, an online B2B marketplace, was started by Ahmad Kayyali and Nader Ibrahim, who were later joined as the first investor by Ahmed Samir. Teegara.com intends to assist new small traders by providing credit lines and other financial aids, as well as innovative distribution methods for vendors and strategies for raising both margins and earnings for small merchants by lowering the two-three circles between vendors and merchants.
Teegara.com’s target market is difficult to define because it falls between between e-commerce and traditional merchants and wholesalers, not being classified as pure e-commerce or traditional merchants.
Teegara.com aspires to link vendors directly to merchants via their digital ordering platform and mobile apps. Among the many additional advantages provided, merchants and vendors can utilize it to increase their sales while lowering the cost of the product on them by eliminating the middlemen between the vendor and the merchant.
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Teegara.com provides first-hand rates, innovative payment ways, resolvable shipping and return procedures, and a wide range of household products, plastics, kitchenware, detergents, beauty, and lingerie directly from factories to merchants.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh