Egyptian social commerce startup, Taager, has secured $6.75 million in a pre-Series B funding round to further expand within the MENA region and enhance its technical capabilities.
The over-subscribed round was led by Africa-focused tech growth fund:
with participation from:
- Endeavor Catalyst and
- Beltone VC
Existing investors, including:
- 4DX Ventures
- RAED Ventures
- BECO Capital, and
- Breyer Capital
also took part.
EXPERT OPINION | ‘Africa is the Most Exciting Market in the World and We’re Only at Day One,’ Says Lexi, General Partner, Norrsken22 Tech Growth Fund
When @anovitske started her investment journey in #Nigeria, the tech scene was vastly different from today’s vibrant landscape.… pic.twitter.com/NHKkTqU8PM
— BitKE (@BitcoinKE) September 7, 2024
Founded in December 2019, Taager is a social e-commerce marketplace that equips online sellers and traders with a comprehensive suite of backend and integrated services. These include operational and logistical support such as storage and shipping, as well as an online marketplace that connects sellers with wholesalers.
The company currently operates in:
- Saudi Arabia
- Egypt
- The UAE, and recently expanded into
- Iraq
It claims to have empowered over 45,000 merchants and facilitated sales to millions of consumers.
Taager leverages technology, AI, and data science to help first-time sellers launch and grow their online businesses with minimal risk. The platform provides a transparent pricing structure and a streamlined product selection process, allowing sellers to focus on business growth while Taager manages end-to-end operations.
“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.
The funding will fuel Taager’s expansion within the MENA region by enhancing its data insights and tools for social sellers, increasing its product selection, and scaling its team.
“Taager is redefining e-commerce in the MENA region by empowering thousands of entrepreneurs with the tools, insights, and infrastructure to build and scale their businesses,” said Nivesh Pather, Principal at Norrsken22.
“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.”
________________________________________
