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$2 M pre-seed funding raised by Egyptian e-commerce startup Gahez

Gahez, an Egyptian B2B fashion e-commerce startup, has raised a US $2 million pre-seed funding round to expand its technology and team in preparation for future growth.

Gahez is an online marketplace that was launched late last year to streamline the process between fashion retailers and manufacturers, resulting in a faster online trading cycle. The platform aids shops in product selection and sourcing alternatives, as well as giving credit terms to make the collection and payment process easier.

Gahez has over 15,000 retailers, 142 manufacturers, and over 4,000 SKUs onboard and operates in 16 governorates across Egypt.

Disruptech Ventures led the startup’s pre-seed round, which included Egypt Ventures, Tanmeyah (an EFG Hermes business), LoftyInc Capital Management, and other strategic angel investors.

“We are on a mission to revolutionise the way retailers shop for their stores by relieving the stress of managing and sourcing. We believe that the Egyptian and African apparel market is untapped and widely fragmented, which provides Gahez with the perfect opportunity to scale and position itself within the sphere,” said Gahez co-founder and CEO Wael Olama.

The business will use its newly acquired capital into developing world-class technology and employ top staff, allowing it to serve all intended consumer categories and expand in the future.

“We are excited to support Gahez’s business expansion plan through our board seat and strategic input. The team is paving the way to digitising the region’s fashion wholesale market. With this investment, I am certain that they will be able to fulfil their targeted milestones,” said Mohamed Okasha, Disruptech’s managing partner.

 

 

 

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