Gahez, an Egypt-based e-commerce startup, and business-to-business fashion marketplace have raised $2 million in its most recent funding round.
Disruptech Ventures, Egypt Ventures, Tanmeyah (an EFG Hermes company), Afropreneur fund, and other strategic angel investors participated in the pre-Seed round.
Gahez launched at the end of 2021 as an online marketplace with the mission of transforming the wholesale distribution platform by streamlining the process between retailers and manufacturers, thereby improving the online trading cycle.
In addition, Gahez provides retailers with on-credit facilities to ease the collection process while third-party aggregators handle cash settlements with suppliers.
By providing powerful sales, marketing, and analytics tools, the Gahez platform helps manufacturers and brands focus on making the right products and growing their business.
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Over 15,000 brick-and-mortar stores, 142 manufacturers, and over 4,000 SKUs (Gahez’s SKU is a wholesale set of sizes and colors) have been on-boarded onto their platform since Gahez launched in 2021, with a focus on online sellers, street vendors, and street vendors.
When asked about Gahez’s expansion and growth, industry veteran and co-founder/CEO Wael Olama said, “We are on a mission to revolutionize the way retailers shop for their stores by relieving them of the stress of managing and sourcing. According to our estimations, the Egyptian/African apparel market is largely untapped and fragmented, making it an ideal place for Gahez to grow and establish itself.
Gahez’s growth and geographic expansion within the region will be accelerated in response to strong demand from neighboring African countries.
Using the newly acquired funds, Gahez plans to invest in cutting-edge technology and the recruitment of top-tier personnel to meet the needs of all of its target customers and to prepare for future growth.
