Mazaya, an Egypt-based company, with a major focus on the electronic B2B e-commerce market, has secured $5 million in a Pre-seed funding round led by Raya Trade & Distribution.
Founded in 2021, the platform which is the first B2B e-commerce platform focusing on electronic goods, allows business-to-business (B2B) transactions between electronic goods, stores and international and local electronic brands – connecting these stores to major electronic brands for their procurement needs via its e-commerce app.
Since its launch, the company has since worked with over 6,000 retailers and has completed a whopping 30,000 orders reaching a gross merchandise value of $15 million.
One of its key features is offering businesses credit facilities and flexible payment plans as many businesses now opt for instalment purchases due to rising cost of electronic goods.
Mazaya plans to use the funding to expand operations in the region and into other markets, with plans to launch services in Nigeria before the end of the year.