Egyptian startup Teegara, a B2B e-commerce platform focused on household and FMCG products, has raised an undisclosed bridge round led by the Alexandria Business Angels Network.
Founded in 2019, by Ahmad Kayyali and Nader Ibrahim with first investee Ahmed Samir, Teegara is a B2B2C e-commerce marketplace that aims to help anyone to trade, starting with small retailers and social e-commerce merchants.
Through its digital platform, Teegara streamlines the buying process and facilitates links between a large pool of vendors and merchants.
Disrupt Africa reported in August of last year the startup had closed a five-figure pre-seed funding round, led by the Alexandria Business Angels Network, and nine months later the same organisation has led a bridge round.
“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 utilised in its expansion plan by adding more verticals to its platform and hiring more sales and operations forces in addition to enhancing its technical capabilities,” Kayyali said.
The startup is preparing for a seed round of financing during the second half of 2022, which will be raised from regional VCs.
Alex Angels investor Ramy Gamal said he was excited to participate in Teegara’s new round, having also invested 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,” he said.
