MaxAB operates a B2B e-commerce and distribution platform that connects suppliers with traditional grocery retailers across Egypt and Morocco. Since launching in 2018, it has connected suppliers with over 150,000 unique traditional retailers and delivered more than 2.5 million orders. The company focuses on groceries as its core product and has built an asset-heavy distribution operation. MaxAB has expanded into Morocco (now ~10% of its business) and plans to enter Saudi Arabia by the end of 2023. It has also developed fintech offerings for merchants, including a bill-aggregation product that has grown 5x in transaction value year-to-date and a newly launched working capital product. The company has raised multiple rounds (including a $55M Series A last year) and has raised over $100M in total; management says the recent raise was to accelerate opportunities rather than to address a cash shortfall. MaxAB operates a tech-enabled B2B e-commerce marketplace that lets store owners purchase goods, request delivery and logistics, and access customer support. The company was founded in 2018 by Belal El-Megharbel and Mohamed Ben Halim and until recently operated in Egypt. MaxAB plans to expand across the Middle East and North Africa, launch new product offerings and grow its team. Financially, the company completed a $40M Series A tranche and has taken a $15M Series A extension, bringing the total Series A to $55M. MaxAB announced the acquisition of Morocco-based WaystoCap (amount undisclosed) as its first step toward regional scale into the Maghreb. The combined platforms will serve more than 70,000 retailers; WaystoCap alone had grown to a network of over 8,000 Moroccan retailers and at one point processed over $3M in transactions per quarter. MaxAB operates a B2B e-commerce platform that manages procurement, delivery and logistics for traditional food and grocery retailers in Egypt; store owners can purchase goods, request delivery and access customer support through the app. The company owns and operates its own warehouses and fleet, buying and revamping warehouses and using internal technology to manage inventory flow. MaxAB says it services more than 55,000 merchants, delivers over 2,000 unique products and has grown staff to about 1,600 people. Founded in November 2018 and based in Cairo, the team has been launching into a new city roughly every month this year. The startup plans to expand its physical footprint across MENA, hire more talent, scale new supply-chain verticals and roll out embedded finance solutions to offer credit and capital financing via banking and non-banking partners. MaxAB reports improved unit economics during the COVID-19 pandemic as it consolidates its position in the market. MaxAB built a digital platform with apps for store owners, a logistics app for its delivery fleet, and a customer support app to manage procurement and delivery of grocery products. The company operates a large warehouse, a fleet of 60 trucks, and reports a staff of 270 and 9,000 retailers on its app. MaxAB generates revenue from margins on the buy-to-sell price of products and expects scale to improve margins toward profitability. Using the new funding, it plans to expand operations to several additional cities in Egypt and grow its tech team. The startup also aims to offer working-capital financing and data-analytics services to its retail clients. MaxAB was founded in 2018 and is led by CEO Belal El-Megharbel, who co-founded the company with Mohamed Ben Halim.

Total raised

$101M

Funding rounds

4

Latest round

Series B

Latest activity

Oct 2022