The Alexandria Business Angels Network sponsored an undisclosed bridge round for Egyptian company Teegara, a B2B e-commerce platform focused on home and FMCG items.
Teegara is a B2B2C e-commerce marketplace founded in 2019 by Ahmad Kayyali and Nader Ibrahim with Ahmed Samir as the first investor. It seeks to enable everyone to trade, starting with small shops and social e-commerce merchants.
Teegara simplifies the purchase process and connects a broad pool of vendors and merchants through its digital platform.
The firm is gearing up for a seed round of funding from regional venture capitalists in the second half of 2022.
“Teegara obtained a bridge round of financing from Alex Angels with the participation of investors from Saudi Arabia, Egypt, and Jordan. This round will be utilised in its expansion plan by adding more verticals to its platform and hiring more sales and operations forces in addition to enhancing its technical capabilities,” Kayyali said.
Ramy Gamal, an investor with Alex Angels, said he was thrilled to join Teegara’s fresh round after investing last year.
“This comes as a reflection of my belief in the founders’ team vision, dedication, and the real socioeconomic value Teegara is offering to its customers. I’m so optimistic about seeing significant growth in Teegara after this round and inviting VCs to stay tuned and keep an eye on this startup,” he said.
