US-based VC and venture builder, Openner, which last year launched its accelerator in Cairo, has invested in electronic e-commerce platform tejarra.com’s six-figure Seed round.
Launched in January by Islam Erfan, tejarra.com offers an online B2B and B2C electronics marketplace for its 50 partne wholesalers, and plans to reach a $6.3 million target revenue rate by the end of this year.
The startup’s partnership with Openner will aid it with further funding, market success, and technical support.
Venture Capital and first “Venture Builder'' model in Egypt, Openner, injected a 6-figure USD seed investment into electronics e-commerce platform tejarra.com, as the platform’s first investor and partner. Through the partnership, Openner will not only offer capital, but also in-depth, hands-on technical support, scientific expertise and additional resources for the platform’s marketing and sales operations as well as its market success and positioning.
Launched in January 2021, tejarra.com has over 50 vendors offering over 18,000 products, where wholesalers, suppliers, and vendors sell electronic consumer goods, ranging from fridges, TVs, printers to video games, wearables, computers, tablets and mobile phones, fitness and personal care equipment.
Founder and General Partner of Openner Ash Rofail expressed his optimism in investing in tejarra.com and his confidence in the great returns of this round of investment made by Openner. He further said “Tejarra.com is specialising only in the category of electronics that is gaining a huge momentum in the online sphere, attracting an increasing base of online
“The founders’ deep domain, market and distribution knowledge and experience combined with their long-standing relationships with wholesalers in a niche market is what helped them optimise their reach to consumers, while providing a best price and best service buying experience.” Rofail added.
Openner is introducing a new distinctive venture model for entrepreneurs in Egypt. The company is a “Venture Builder'' with three streams: build new ventures, invest in existing ones and partner with the corporations to unlock new business models. “We believe in what the Egyptian market has to offer, its broad tech-savvy youth segment and their promising and
pioneering ideas. This incentivised us to take our first steps in the Middle East, through Egypt, driven by the rising understanding and rapid growth of the entrepreneurship ecosystem in the country.” Rofail stated.
“In an already fast paced world, with challenges that rise every day, both consumers and retailers around the region are seeking new and innovative shopping and marketing solutions respectively. After closely monitoring both local and regional trends, tejarra.com team identified an unfilled space on the ecommerce platforms that would act as our entry point,” said Islam Erfan, Founder and CEO of tejarra.com, elaborating that the partnership with Openner will enable us to streamline our market success and solidify our position among other market players.
“tejarra.com was born out of the current global challenge to deploy bespoke marketing solutions for our partners, and a consistent and enjoyable shopping experience for our shoppers. While focusing on electronics, mobiles and mobile accessories, we are always on the hunt for the latest trends and gadgets to keep our clients updated and facilitate their shopping experience.” Erfan added.
Targeting EGP 100 million sales by the end of this year, tejarra.com focuses on B2C and B2B solutions for selling appliances, electronics, and gadgets in a dedicated and specialised marketplace. Focusing on this niche vertical better serves both buyers and sellers alike.