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MaxAB: raises $6.2m follow-on capital to automate the B2B supply chain for FMCG in Egypt

MaxAB raises a follow-on $6.2M seed round considered as on of the largest seed round in the MENA region, about 6 months after our initial investment in the company.

MaxAB is a m-commerce platform that is reinventing B2B supply chain in the FMCG informal sector, leveraging technology to aggregate the fragmented $45bn Egyptian consumer goods retail market. This represents a huge opportunity since consumer goods sold via informal shops accounts for 90% of retail purchase volumes across Africa, which implies a lot of inefficiencies in the value chain and huge lack of control and visibility for FMCG brands.

On the same model than our Kenyan portfolio company Sokowatch - which focused on East and West Africa - MaxAB enables small shops to order via SMS and mobile app products they need, and get delivered for free within the next days with a predictive model; in addition to credit facilities for the most active retailers. Thus, it gives back brand full visibility of the supply chain via data and analytics.

Launched in November 2018, MaxAB has recorded a 50% MoM growth and has 9,000 active retailers on the platform (as of Sept 2019). In Sept 2019, MaxAB raised follow-on funding with a total of $6.2M seed round led by Beco Capital and 4dx Ventures, among other participating VC funds. This round was considered to be one of the largest seed rounds of the region.

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