Wednesday, May 22, 2024

Egyptian B2B startup, Mazaya, secures $5m pre-seed. 2 other stories and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world, today

1. Egyptian B2B startup, Mazaya, secures $5m pre-seed

Egyptian B2B e-commerce marketplace, Mazaya, has secured a $5m pre-seed led by Raya Trade & Distribution.

Mazaya is a B2B startup revolutionizing the production of tobacco-molasses to meet the latest international quality standards.

Amir Aboul Fotouh, Mazaya Co-Founder & Head of operations, confirmed the fresh funding in a press release on Tuesday.

Commenting on the raiser and intent, Aboul Fotouh, launched the startup in 2021, said:

“We are also thrilled to have strategic investors with extensive experience in electronics retail, distribution, and logistics, such as Raya.

“The funds raised will allow us to quickly scale our operations and expand to other markets beyond Egypt, we have plans to launch our services in Nigeria before this year-end.”

Ripples Nigeria gathered that the lead investor Raya Trade & Distribution is a subsidiary of Raya Holding for Financial Investments.

Tech Trivia: Which OS uses System Preferences to control system settings?
A. Windows
B. macOS
C. iOS
D. Android
Answer: see end of post

2. Ghana’s agtech, Farmerline, secures $1.5M funding from Oikocredit

Beryl TV images-10-3 Egyptian B2B startup, Mazaya, secures $5m pre-seed. 2 other stories and a trivia Technology

A Ghanaian agtech startup, Farmerline, has on Tuesday announced securing $1.5M from Dutch investor Oikocredit.

Read also:Nigerian fintech startup, Bamboo, expands operations into Ghana. 2 other stories and a trivia

The startup’s cofounder, Alloysius Attah, confirmed the new funding in a statement.

Ripples Nigeria had earlier reported that the Accra-based agtech startup secured a $12.9M equity-debt pre-Series A round with the equity round led by Acumen Resilient Agriculture Fund (ARAF) and FMO.

The new funding brings the total fund raised to around $14.4 million, including $6.4 debt funding.

Attah in 2013 founded that startup alongside Emmanuel Owusu Addai.

“With the support of Oikocredit alongside our first-round funders, our distribution, logistics, and financing services will continue not only in Ghana but also in Ivory Coast where we’ve recently begun the process of expanding our team,” said Attah.

3. Egyptian retailers set to benefit from Tabby and Paymob partnership

Beryl TV images-11 Egyptian B2B startup, Mazaya, secures $5m pre-seed. 2 other stories and a trivia Technology

UAE-based fintech Tabby has announced a partnership with Paymob, an Egyptian digital payment solution fintech.

Ahmed Khalil, Tabby Egypt’s General Manager confirmed the partnership in a press release on Tuesday.

Khalil said that the partnership is to benefit Egyptian retailers with a seamless buy now pay later (BNPL) solution for both in-store and online retailers.

Commenting on the partnership, Khalil said:

“Partnering with Paymob allows our technology to be instantly accessible to their network of over 120,000 retailers in Egypt.”

“Our partnership with Tabby is key because it encompasses both physical, in-store and online, e-commerce payments solutions, to provide a better checkout experience, increased conversions, and an expanded client base for merchants in Egypt,” added Paymob’s Executive Vice President for Global Business Development, Omar El-Gammal.

Trivia Answer: macOS

System Preferences is an application bundled with OS X that allows you to change settings on your Mac.

It is similar to the Control Panel in Windows and supersedes the Control Panel that was part of Mac OS Classic.

By Kayode Hamsat

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