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Home News Africa News

Egyptian Start-up, Mowarrid Raises $2.3m Investment Round

Tech Gist Africa by Tech Gist Africa
08/14/2018
in Africa News, Opportunities
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Mowarrid

Ahmed Essam. Founder & CEO - Mowarrid. Photo Credit: linkedin

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Egyptian based start-up, Mowarrid has announced raising investment round of $2.3m from regional and international investors.

Mowarrid is an online platform that connects supermarkets with their suppliers. Through the start-up’s mobile app, supermarket owners are provided with an easy and convenient means of directly placing orders for goods for their supermarkets from FMCG companies.

Ahmed Essam, Founder and CEO of Mowarrid, revealed to WeeTracker that the closing of the financing round is the culmination of negotiations that have been in progress since early this year. “We are using the funds to expand our development and sales teams, as well as accelerate retailers’ acquisition,” the CEO further stated.


Also See: Nigeria Fintech start-up, Mines Secures US$13m Series A Round


Ahmed also that Mowarrid started as an idea since 2015. However, the company was formally established in 2017, and it has been growing and developing ever since. On the backs of securing the latest investment, the company appears to be on course in its bid to further scale its operations by expanding its development and sales teams. The funding is also expected to go some way towards expanding the scope of the start-up’s acquisition of retailers.


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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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