zVendo secures six-figure Seed investment
Egypt: Egypt-based E-commerce platform zVendo raised a six-figure Seed funding round with the participation of EFG EV Fintech along with undisclosed angel investors, supporting its growth to become the first local e-commerce hub in Egypt. Tarek Bakry, founder and CEO acknowledges that “Being part of many startup programs like Microsoft Startup program has helped us achieve our goal of growing merchants’ businesses online.”
Founded in 2018 by the primary founders of leading e-commerce solutions company Business Boomers, zVendo emerged from Egyptian developers for the Middle East and the Arab world. It is an e-commerce SaaS platform that enables businesses to start selling online in a blink of an eye through various advanced sales channels. From an online store to a mobile app and POS systems, product feeds for social media platforms, marketplaces, and product aggregators, leaving no channel overlooked.
Founder and CTO Sameh Abdel Fattah and Co-Founder and CEO Tarek Bakry aim to equip retailers with “A platform that provides merchants and their customers with a localized experience that does not require having any technical knowledge”, They said, with a single holistic dashboard view, zVendo introduces detailed sales and customer reports, along with marketing and e-commerce tools and integrations with different ERP and similar systems.
Mahmoud El-Zohairy, CEO, EFG EV reported that ” The main reason why EFG EV Fintech is thrilled to be part of zVendo’s journey is the opportunity to enable more SMEs in the region to digitize their commerce activities in both affordable and effective ways. We believe that this partnership will act as a catalyst providing SMEs with a platform for growth in parallel with the government’s economic development and digitization endeavors.”
The Omni-channel enabler provides multiple subscription-based packages to support businesses of all sizes. Ranging between freemium and full-fledged features, they include more than 20 ready-made payment and shipping integrations. The Arabic language is available to online stores as a free feature to all packages.
Recent shift and rapid growth in the e-commerce industry in 2020 empowered zVendo to expand its support to all types of businesses with additional features exclusively tailored for each industry. zVendo equally started to expand regionally in UAE and Saudi Arabia to be followed by other GCC countries, targeting to brace the e-commerce growth across the whole region.
