zVendo, an Egyptian eCommerce SaaS solution provider, has bagged a Pre-Series A funding round from Mobica and Gratus Holding.
“We would like to welcome Mobica and Gratus to join our shareholders. We are confident that they will add value to zVendo and support the growth locally and regionally. The investment from Mobica and Gratus will be used to in two tracks, the first adding more capabilities to our platform including integration points for shipping and payments and the second track being our regional expansion in the GCC area,” Tarek Bakry, CEO and Co-Founder of zVendo said.
The startup plans to utilize the cash from the latest financing round to promote regional expansion and platform improvements.
Read also:Moroccan Ecommerce Startup Epicerie Verte Raises $748k To Expand To Europe
It seems that zVendo’s business model greatly assisted it to secure the funding. According to Bishoy Azmy, Founder of Gratus Holding and CEO of ACGC, Gratus Holding sees zVendo as the Shopify of the Middle East, having great potential in the region.
“We only invest in businesses with leading technology and a promising future, and zVendo has both,” he said.
For Mohamed Farouk, CEO at Mobica group, technology and team are the most important driving forces for the investment in zVendo.
“zVendo is the future of E-commerce,” he said. “We are confident that the zVendo leadership team has the will, passion and know how to make zVendo the platform of choice to all merchants in our region.”
According to Freddy Maurice, Head of Investments at Mobica, “expectations on zVendo are so upbeat, having the formula of success combining smart management, cutting edge technology and operating in the booming E-commerce industry.”
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What You Need To Know About zVendo
In 2018, Egyptian entrepreneurs founded zVendo to meet the booming E-commerce industry in Egypt, the Middle East, and Africa. zVendo was created with the goal of allowing businesses to begin their online sales journey through several localized channels in the blink of an eye, without requiring any technological expertise.
“We have been working on building a strong E-commerce platform that can cater to different industries and business sizes. With the new partnership with Mobica and Gratus, we aim to become the most advanced E-commerce platform provider in the region by end of 2021,” zVendo Founder and CTO, Sameh Abdel-Fattah said.
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