Egyptian startup Brimore, a direct-selling distribution platform that connects manufacturers with consumers, has raised US$800,000 in seed funding as it plans to expand into other emerging markets, especially in Africa.
Founded in 2017 by Mohamed Abdulaziz, Ahmed Sheikha, and Mahmoud Refaay, Brimore provides manufacturers with direct access to local communities who can both promote and consume their products.
Its platform creates significant efficiencies for local manufacturers by dramatically optimising their branding and distribution costs, providing them with better demand visibility, and allowing them to improve utilisation. Brimore’s channel extends well into the depths of rural areas in Egypt.
“Many local manufacturers and products have suffered and died because of inefficient and expensive distribution networks that are better suited to big multinationals,” said Abdulaziz, Brimore’s chief executive officer (CEO). “We’re leveraging the power of people and their social networks to solve the problem of market access for SMEs in Egypt and disrupt the traditional distribution model. We’ve merged sales, marketing, and distribution in one transaction.”
The startup has now raised seed funding worth US$800,000 in a round co-led by Algebra Ventures and Endure Capital, with participation from 500 Startups, Flat6Labs, and angel investors.
Sheikha, chief brand officer, said Brimore was on a mission to support its distributors through economic empowerment and continuous training opportunities.
“We started in Egypt but we’re aiming to grow in other emerging markets, particularly in Africa,” he said.
Tarek Assaad, Algebra Ventures’ managing partner, said he had been very impressed with the Brimore team and its approach to solving an expensive and complex problem.
“We believe the company will change how small and medium manufacturers think about selling goods to the large base of Egyptian consumers,” he said.
Endure Capital managing partner Tarek Fahim also expressed pleasure at his firm coming on board.
“At a time when all major FMCGs are ‘buy one, get one free’ companies, distribution simply wins. We are proud to support Brimore in their endeavors to enable resellers and hopefully change their lives for the better,” he said.
“Brimore is solving a problem in many emerging markets – how to get products to reach a wider base and fix broken distribution channels,” said Hasan Haider, partner at 500 Startups. “In addition, the support being given to their partners and women all over Egypt to build their businesses and be self-sufficient is a great benefit.”
Brimore was part of the Flat6Labs Cairo accelerator in December, and is the first startup to secure an investment before demo day.
“Flat6Labs Cairo has been one of the first believers in Brimore,” said Ramez El Serafy, CEO of Flat6Labs. “We are excited to continue our strategic partnership with the team and to be supporting them further through this round of follow-on investment.”
