The Egyptian eCommerce SaaS solution supplier zVendo has effectively raised a seven-figure Pre-Series A financing round from Mobica and Gratus Holding. The platform was established back in 2018. zVendo was made by Egyptian entrepreneurs to oblige the developing E-trade market in Egypt, Middle East, and Africa meaning in the MENA region. zVendo was deliberately worked to empower startups to begin their online ventures in the local area without having to use or requirement of technical knowledge.
“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 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,” said Tarek Bakry, CEO and Co-Founder of zVendo.
Mr. Bishoy Azmy, Founder of Gratus Holding and CEO of ACGC revealed “We only invest in businesses with leading technology and a promising future, and zVendo has both. We see zVendo as the Shopify of the Middle East, having great potential in the region.”
Freddy Maurice, Head of Investments at Mobica, added “Our 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.”
Mr. Mohamed Farouk, CEO at Mobica group, mentioned “Technology is the future of the world, zVendo is the future of E-commerce. 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.”
zVendo Founder and CTO, Sameh Abdel-Fattah said “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 plans on expanding its regional operation with the raised fresh funds and proceeding to enter new markets as well