MaxAB raised a $40M Series A from RMBV, IFC and Flourish Ventures among others. The funding will be mainly used for expansion across North Africa and the Middle East, as well as the scale its recently launched verticals, including embeded financing to the small informal retailers they serve.
MaxAB is a B2B e-commerce marketplace enabling small FMCG retailers to order goods and get delivered in less then 24 hours. The company, based in Egypt, is re-investing the FMCG supply-chain for the largest part of the economy which is based on informal grocery retailers network. Beyond using data to optimize procurement from suppliers and delivery to small retailers, MaxAB provides financing to small retailers in order to improve their working capital and help them grow.
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