Egyptian e-commerce platform MaxAB acquires Moroccan counterpart WaystoCap

EGYPT – MaxAB, an Egyptian B2B e-commerce platform, has acquired Moroccan counterpart WaystoCap the Morocco-based B2B e-commerce and distribution platform that connects retailers with suppliers across Africa. The acquisition will see MaxAB accelerate its expansion into the Maghreb market, empowered by WaystoCap’s expertise in the region. Additionally, MaxAB has confirmed an additional US$15 million investment from existing investors, as it closes its Series A, which brings the total capital raised by the ecommerce leader to more than US$60 milion. It secured US$40 million in Series A funding in July. Founded…

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Ecommerce platform Maxab raises US$40m Series A round to expand to other markets

EGYPT – Maxab, a Cairo-based B2B ecommerce platform, has announced that it has raised US$40 million in a Series A round led by RMBV, a North African-focused impact investor. IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, and Maxab’s previous investors Beco Capital and 4DX Ventures all participated in the purchase. The startup intends to use the fresh funding to grow across Egypt’s major cities by the end of the year, followed by other markets in the region. According to the Egyptian firm, the funds will be utilized…

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