The Venture Codex

Participated · Series A · Jun 2021

Fatura operates a smartphone app connecting wholesalers and manufacturers with retailers, initially focused on fast-moving consumer goods (FMCG) and experimenting with other industries. Founded in 2019, the company has surpassed EGP 1 billion in annual GMV in the FMCG market. It has scaled to more than 25,000 merchants and 500 wholesalers and manufacturers across 20 governorates, exchanging over 10,000 SKUs in the last year. The company includes a fintech component that complements its core offering and helps shops expand operations with reduced working capital constraints. Fatura plans to monetise its data and services and roll out new offerings for manufacturers, distributors, and retailers, alongside digitalisation initiatives such as digital payments and regional expansion. The new funding is intended to help Fatura expand services beyond e-commerce and digital financing to improve the B2B interchange of goods, money, and information.

Participated · Seed · May 2021

Mozare3, founded in 2020, builds digital tools and a farmer community to give Egypt’s roughly 20 million small farmers access to markets and loans. The company partners with institutional purchasers — including frozen-vegetable processors, major wholesalers and retailers — and signs offtake agreements to buy future crop output at set prices. Mozare3 also offers agronomy support via a network of subject-matter experts and plans a farmer-facing app to enable purchases and online advice. The service reduces farmers’ risk of failing to find buyers at harvest and lets them focus on farming. As of the article, Mozare3 has offtake agreements with 100 farmers and three major institutional purchasers. Management aims to expand to 2,500 contracted farmers and 25–50 institutional purchasers by the end of 2022, and to reach 10,000 farmers via the app within 18 months.

Participated · Seed · Mar 2021

Dayra offers financial services to unbanked gig-workers and micro-businesses via API integrations and a direct app. Its core products include virtual bank accounts, prepaid cards, access to credit, and payment disbursement solutions that let companies extend payment terms. By analyzing end-user transactions, Dayra builds alternative credit scores and virtual financial identities. Businesses can integrate Dayra’s services either within their own apps via API or by directing users to Dayra’s app. The company was founded in early 2020 by Omar Ekram and joined Y Combinator’s Winter 2021 batch. Dayra plans to double its team to expand the company and build new product features and has just closed a $3M pre-seed financing (debt and equity).