Egypt-based e-commerce enabler zVendo, has raised a six-figure seed funding round. Investors include EFG EV Fintech along with some undisclosed angel investors.
Founded in 2018, zVendo is a SaaS platform that enables small businesses to build online stores in Arabic via its freemium offerings.
“[Our] platform provides merchants and their customers with a localised experience that does not require having any technical knowledge”, said the startup’s cofounders Sameh Abdel Fattah (CTO) and Tarek Bakry (CEO).
zVendo has already expanded its footprint to the UAE and Saudi Arabia, and plans to expand to the rest of the GCC countries with this latest round of funding.
“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 digitise their commerce activities in both affordable and effective ways," said Mahmoud El-Zohairy, CEO of EFG EV. “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 digitisation endeavors."