Egypt’s Brimore Raises $800,000 Seed Funding Round

Egypt’s consumer goods distribution network Brimore has raised $800,000 in a seed funding round co-led by Algebra Ventures and Endure Capital. The funding round also saw participation from 500 Startups, regional accelerator Flat6Labs as well as other angel investors.

Founded in March 2017 by Mohamed Abdulaziz, Ahmed Sheikha, and Mahmoud Refaay, Brimore is a direct selling distribution platform enabled by technology for manufacturers to list their products. It helps small local manufacturers sell their products directly to consumers through its network of freelance sales agents. Sales agents could consume the products themselves, sell it to their friends, relatives and neighbors, or even put them up for sale in small stores in their neighborhoods.

Brimore uses this model to create an entirely new marketing and distribution channel that is built on data analytics and social networks. Its channels extends to the rural areas of Egypt.

Ahmed Sheikha, the Co-founder and Chief Brand Office, says, “We’ve merged sales, marketing, and distribution in one transaction. 92 percent of our distributors are women who want high-value jobs and the option to work from home. We’re on a mission to support our distributors through economic empowerment and continuous training opportunities. We started in Egypt but we’re aiming to grow in other emerging markets, particularly in Africa.”

“Many local manufacturers and products have suffered and died because of inefficient and expensive distribution networks that are better suited to big multinationals. We’re leveraging the power of people and their social networks to solve the problem of market access for SMEs in Egypt and disrupt the traditional distribution model,” noted Abdulaziz, Co-founder and CEO.

Tarek Assaad, Algebra Ventures’ Managing Partner, commented on the occassion saying, “We’re very impressed with the Brimore team and their approach to solving an expensive and complex problem. We believe the company will change how small and medium manufacturers think about selling goods to the large base of Egyptian consumers.”

Brimore currently works with over 20 local manufacturers selling products across different categories. It intends to channel the investment to build technology for the manufacturing side of the platform as well as improving upon their tech platform.