Advertisement
CRESTHUB
CRESTHUB MAGAZINE
  • NEWS
    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    NucleusIS Rolls Out Credit Scheme to Grow Health Insurance

    NucleusIS Rolls Out Credit Scheme to Grow Health Insurance

    Mylerz Raises $9.6 Million to Scale its E-commerce and Logistics Platform

    Mylerz Raises $9.6 Million to Scale its E-commerce and Logistics Platform

    Kaltani Raises $4 Million to Boost Plastic Waste Recycling in Africa

    Kaltani Raises $4 Million to Boost Plastic Waste Recycling in Africa

    Kwaba Secures Undisclosed Pre-seed Round to Expand Across Africa

    Kwaba Secures Undisclosed Pre-seed Round to Expand Across Africa

    Early Stage-focused VC, HAVAÍC closes $20 million Fund to Invest in African Startups

    Early Stage-focused VC, HAVAÍC closes $20 million Fund to Invest in African Startups

  • FEATURED
    How ReelFruit Attained 3x Revenue Growth through Instagram Marketing

    How ReelFruit Attained 3x Revenue Growth through Instagram Marketing

    eHealth Africa is Revolutionizing Public Health in Nigeria and Beyond

    eHealth Africa is Revolutionizing Public Health in Nigeria and Beyond

    Why Establishing Your Brand Identity With a Bold Look is Important

    Why Establishing Your Brand Identity With a Bold Look is Important

    How Traditional Banks in Nigeria Can Leverage Fintech to Enhance Customer Experiences

    How Traditional Banks in Nigeria Can Leverage Fintech to Enhance Customer Experiences

    How One Company Is Helping Young Nigerians Access Standard Sexual Health Services

    How One Company Is Helping Young Nigerians Access Standard Sexual Health Services

    eNaira Has Been Launched

    10 Distinctive Things To Note About eNaira

  • BLOCKCHAIN
    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    Non-fungible Token of Nelson Mandela’s Original Arrest Warrant Raises over $130,000 in Auction

    Non-fungible Token of Nelson Mandela’s Original Arrest Warrant Raises over $130,000 in Auction

    The BBN Token: a Shift in the World of African Reality Shows

    The BBN Token: a Shift in the World of African Reality Shows

    The Status of Real Estate Tokenization in Nigeria

    Blockchain company Bitmama launches African Physical Crypto Cards for In-store Payments

    Blockchain company Bitmama launches African Physical Crypto Cards for In-store Payments

  • FINANCE
    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    We report Fundraising Stories everyday! But what do these Funding rounds mean?

    We report Fundraising Stories everyday! But what do these Funding rounds mean?

    Klump secures $780,000 pre-seed funding to Boost Buy-Now-Pay-Later Services in Nigeria

    Sudo Africa raises $3.7 million pre-seed fund for its Card-Issuing API Platform

    Sudo Africa raises $3.7 million pre-seed fund for its Card-Issuing API Platform

    Flutterwave Launches New Products at Flutterwave 3.0

  • START UPS
    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Topship Secures $2.5 Million to Boost International Shipping

    Topship Secures $2.5 Million to Boost International Shipping

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    Equinix Inc Expands to Africa following Acquisition of Connectivity Solution Provider, MainOne

    Equinix Inc Expands to Africa following Acquisition of Connectivity Solution Provider, MainOne

    Egypt’s Mental Health Service 07 Therapy Secures $2.1 million Seed Round

  • PODCAST
CRESTHUB
  • NEWS
    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    NucleusIS Rolls Out Credit Scheme to Grow Health Insurance

    NucleusIS Rolls Out Credit Scheme to Grow Health Insurance

    Mylerz Raises $9.6 Million to Scale its E-commerce and Logistics Platform

    Mylerz Raises $9.6 Million to Scale its E-commerce and Logistics Platform

    Kaltani Raises $4 Million to Boost Plastic Waste Recycling in Africa

    Kaltani Raises $4 Million to Boost Plastic Waste Recycling in Africa

    Kwaba Secures Undisclosed Pre-seed Round to Expand Across Africa

    Kwaba Secures Undisclosed Pre-seed Round to Expand Across Africa

    Early Stage-focused VC, HAVAÍC closes $20 million Fund to Invest in African Startups

    Early Stage-focused VC, HAVAÍC closes $20 million Fund to Invest in African Startups

  • FEATURED
    How ReelFruit Attained 3x Revenue Growth through Instagram Marketing

    How ReelFruit Attained 3x Revenue Growth through Instagram Marketing

    eHealth Africa is Revolutionizing Public Health in Nigeria and Beyond

    eHealth Africa is Revolutionizing Public Health in Nigeria and Beyond

    Why Establishing Your Brand Identity With a Bold Look is Important

    Why Establishing Your Brand Identity With a Bold Look is Important

    How Traditional Banks in Nigeria Can Leverage Fintech to Enhance Customer Experiences

    How Traditional Banks in Nigeria Can Leverage Fintech to Enhance Customer Experiences

    How One Company Is Helping Young Nigerians Access Standard Sexual Health Services

    How One Company Is Helping Young Nigerians Access Standard Sexual Health Services

    eNaira Has Been Launched

    10 Distinctive Things To Note About eNaira

  • BLOCKCHAIN
    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    Non-fungible Token of Nelson Mandela’s Original Arrest Warrant Raises over $130,000 in Auction

    Non-fungible Token of Nelson Mandela’s Original Arrest Warrant Raises over $130,000 in Auction

    The BBN Token: a Shift in the World of African Reality Shows

    The BBN Token: a Shift in the World of African Reality Shows

    The Status of Real Estate Tokenization in Nigeria

    Blockchain company Bitmama launches African Physical Crypto Cards for In-store Payments

    Blockchain company Bitmama launches African Physical Crypto Cards for In-store Payments

  • FINANCE
    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    We report Fundraising Stories everyday! But what do these Funding rounds mean?

    We report Fundraising Stories everyday! But what do these Funding rounds mean?

    Klump secures $780,000 pre-seed funding to Boost Buy-Now-Pay-Later Services in Nigeria

    Sudo Africa raises $3.7 million pre-seed fund for its Card-Issuing API Platform

    Sudo Africa raises $3.7 million pre-seed fund for its Card-Issuing API Platform

    Flutterwave Launches New Products at Flutterwave 3.0

  • START UPS
    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Topship Secures $2.5 Million to Boost International Shipping

    Topship Secures $2.5 Million to Boost International Shipping

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    Leatherback Limited Intends to Boost Company Profile with $10 million Pre-Seed Fund

    Equinix Inc Expands to Africa following Acquisition of Connectivity Solution Provider, MainOne

    Equinix Inc Expands to Africa following Acquisition of Connectivity Solution Provider, MainOne

    Egypt’s Mental Health Service 07 Therapy Secures $2.1 million Seed Round

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result
Home News

Social Commerce Platform, Brimore secures $25M in Series A Funding

by Shalom Oyero
February 2, 2022
in News
0
Social Commerce Platform, Brimore secures $25M in Series A Funding
Share on FacebookShare on Twitter

Cairo-based social commerce platform, Brimore, has raised $25M in its Series A fundraising. The round was  led by existing partners, IFC – International Finance Corporation and Endure Capital, with the participation from VCs: Algebra Ventures Flourish Ventures, Endeavor Catalyst, Fawry, DisrupTech Ventures, Vision Ventures and Khwarizmi Ventures. 

Speaking on the fundraising, Mohamed Abdulaziz, Brimore’s CEO and Co-Founder said, “In the past three years, we’ve focused on building a smart and reliable infrastructure that enables the masses to do their commerce businesses, wherever they are, and whatever they have. 

“We’ll be using the fresh fund to scale our infrastructure, enabling many more people to continue their journey of 50x growth by 2023, and opening this gate of hope and opportunity to other people in African markets.”

Founded in 2017 by Mohamed Abdulaziz and Ahmed Sheikha,  Brimore has become an employer of labour with over 700 employees in its service along the distribution chain.   

Thus, with over 70,000 distributors and 300+ suppliers, Brimore is rising to a helm, asserting that it has had a 400x growth rate in the last four years. 

Brimore plans on using its new fund to establish new trade routes for global expansion to become Africa’s market gateway. The company also hopes to redefine the generic go-to market experience and bring goods and services to the doorsteps of customers. 

Furthermore, using its micro-distributors, Brimore enables manufacturers and retailers to sell products to customers across Egypt and also enables a parallel distribution chain.

The startup has incorporated within its  supply chain, payment facilities that make it flexible for a number of SMEs (Small and medium enterprises) which offer services like the provision of packaged foods, personal care, and household goods. 

Speaking on its investment in Brimore, Walid Labadi, IFC’s country manager for Egypt, said, “IFC is excited to support Brimore as a leader in social commerce in Egypt. This is our largest direct investment in social commerce so far. IFC’s co-lead investment in Brimore aims to help the platform continue to democratise access to e-commerce, increase economic opportunities for women, and support the development of the local manufacturing sector in the country.”

Tarek Fahim, Managing Partner at Endure Capital, holds absolute faith in Brimore’s mission of building the infrastructure and technology for social commerce in Egypt and Africa, to change the lives of their partners, especially women who aspire for a better future for themselves and their families. He also made commitments to be continuous partners with Brimore.

Brimore asserts that this round of investment will enable the company to grow even further, strengthening its logistics and operational infrastructure, double its staff size, and product portfolio as well as expand its reach to resellers and suppliers. Its next step includes global expansion to become Africa’s market gateway.

However, Brimore had previously secured $3.5 million in  its  Pre-Series A stage, a round led by Algebra Ventures, with the participation of Disruptech, Vision Ventures, and existing investors 500 Startups, and Flat6Labs.

This women-focused startup is making waves in Egypt already and plans to expand to three other countries by 2023.

(Wholly reported by Ajifa Treasure Solomon)

Related

Tags: africaBrimore
Previous Post

Tech Growth Startup, Norrsken22 Secures $110 million of $200 million Growth Fund for Africa’s Tech Startups

Next Post

Truck Logistics Startup, Amitrucks, secures $4M funding, targets Ugandan and Tanzanian Markets

Next Post
Truck Logistics Startup, Amitrucks, secures $4M funding, targets Ugandan and Tanzanian Markets

Truck Logistics Startup, Amitrucks, secures $4M funding, targets Ugandan and Tanzanian Markets

3 Free Banking Apps Helping Nigerian Entrepreneurs Save and Grow Money

3 Free Banking Apps Helping Nigerian Entrepreneurs Save and Grow Money

Recommended

Nigerian Vehicle Repair and Maintenance Startup, Mecho Autotech raises $2.15M Seed Investment Fund

Nigerian Vehicle Repair and Maintenance Startup, Mecho Autotech raises $2.15M Seed Investment Fund

3 months ago
Clafiya Founders

Clafiya is Bringing Hospital Services to Homes in Rural Communities

12 months ago
CRESTHUB

Cresthub is a data focused media that leverages on data to uncover hidden sights which cuts across startups, technology, blockchain and founders in Africa.

COMPANY

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

PRODUCTS

  • Cresthub Magazine
  • Cresthub Podcast
  • Cresthub Insight

SOCIALS

Facebook Twitter Youtube
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

© 2022 Cresthub Media

No Result
View All Result
  • NEWS
  • FEATURED
  • BLOCKCHAIN
  • FINANCE
  • START UPS
  • PODCAST

© 2022 Cresthub Media

Cresthub newsletter
THE WEEKLY ROUND UP

Join our newsletter to get first hand insight in tech and start up happenings in Nigeria and Africa at large.

Enter your email address