MaxAB-Wasoko, Africa’s leading retail e-commerce and supply chain super app, has announced the acquisition of Fatura, an Egypt-based B2B e-marketplace, as it bids to consolidate the B2B commerce and fintech landscape across the continent.
Formed last year after two of Africa’s most prominent B2B e-commerce companies, Kenya’s Wasoko and Egypt’s MaxAB, completed the continent’s largest-ever tech merger, MaxAB-Wasoko empowers hundreds of thousands of underserved merchants and local shop owners by providing access to quality goods, competitive pricing, and integrated financial services through a unified, mobile-first super app.
Retailers can restock inventory with 24 hours delivery, access working capital through embedded financing solutions, and leverage digital tools to grow their businesses and improve livelihoods.
Since the merger, the combined entity has achieved remarkable growth across its fintech and e-commerce verticals. The company’s fintech business has doubled in Egypt, expanded to Morocco, and now provides credit solutions that finance over nine per cent of e-commerce sales.
It has now acquired Fatura, an Egyptian startup founded in 2019, and subsequently acquired by Tanmeyah – an EFG Holding subsidiary – in 2022. A fintech-enabled B2B marketplace that connects suppliers with retailers, MaxAB-Wasoko said Fatura’s model perfectly complements its own robust end-to-end supply chain. Fatura will be fully integrated into the platform and unified under the company’s brand.
The platform was acquired from EFG Finance, which will now join MaxAB-Wasoko as a significant shareholder, acquiring an equity stake and securing a seat on the company’s board. MaxAB-Wasoko said the deal marked a major milestone in its strategy to consolidate the B2B commerce and fintech landscape across Africa.
“The acquisition of Fatura is more than a growth play; it’s the realisation of our ambition to become the go-to, one-stop-shop for retailers throughout Africa,” said Belal El-Megharbel, CEO of MaxAB-Wasoko. “By bringing together operational strength, product depth, and innovative fintech offerings, we’re setting a new standard for retail across the region.”
Aladdin ElAfifi, CEO of EFG Finance, said he was “thrilled” to partner with MaxAB-Wasoko as they reshape the retail and supply chain sectors.
“Integrating Fatura will drive meaningful business growth, and our role as a significant shareholder and board member supported by EFG Holding reinforces our commitment to fostering innovation in the fintech space,” he said.
