Egyptian social commerce startup Taager has raised a US$6.75 million pre-Series B funding round to help it continue to expand within the MENA region and advance its technical capabilities.
Launched in December 2019, Taager is a social e–commerce marketplace that provides online sellers and traders with a complete suite of backend and integrated services, from operational and logistical infrastructure such as storage and shipping to an online marketplace to host their products, connecting sellers with wholesalers.
The company uses technology, AI and data science to enable first time sellers to start and scale their online business seamlessly with relatively low risk. It offers a transparent pricing structure and an enhanced product selection process, freeing online sellers to focus on running their business while Taager handles the end to end operations.
Tanager currently operates in Egypt, the United Arab Emirates (UAE), and Saudi Arabia, and recently expanded to Iraq. It has so far served over 45,000 online social sellers, and is now preparing for further growth after raising a US$6.75 million pre-Series B round.
Led by Africa-focused tech growth fund Norrsken22, the oversubscribed round also included participation from Endeavor Catalyst and Beltone VC. Existing investors including 4DX Ventures, RAED Ventures, BECO Capital and Breyer Capital also participated.
This funding will support Taager’s growth within MENA by allowing it to further build out its data insights and tools for social sellers, expand product selection and scale its team.
“Taager has created its own category, which means we have had to spend the past five years building social commerce fundamentals from the ground up. In the past two, we have refined the business, becoming more capital efficient, scalable and improved our core unit economics. Now it’s time to scale. We have laid the groundwork to enable us to grow five times within the next few years,” said Mohamed Elhorishy, co-founder and CEO of Taager.
Nivesh Pather, principal at Norrsken22, said Taager was redefining e-commerce in the MENA region by empowering thousands of entrepreneurs with the tools, insights, and infrastructure to build and scale their businesses.
“This team has been exceptional in being able to successfully navigate scaling into multiple markets profitably, including Saudi Arabia. We are excited to be partnering with Mohamed and his team on Taager’s next phase of growth,” he said.
