Launched in December 2019, Taager is an Egyptian e-commerce platform that provides online sellers and merchants with a full suite of services, from operational and logistical infrastructure such as storage and shipping to an online marketplace to host their products, connecting sellers to wholesalers.
The company uses technology, AI and data science to enable first-time sellers to start and scale their online businesses seamlessly, with relatively low risk. It offers a transparent pricing structure and an improved product selection process, freeing online sellers to focus on running their business while Taager handles the end-to-end operations.
Taager’s Gross Merchandise Value (GMV) has grown at a rate of around 40% since launch, and the startup now plans to scale even faster after a $6.4 million seed round led by 4DX Ventures and also including Raed Ventures, Beco Capital, Breyer Capital, and several key private investors including Magnus Olsson.
The new capital raised will be used to expand Taager’s rapidly growing operations and presence in Egypt and around the world. The company also plans to scale and boost its technology and expand its world-class talent pool.
“Small and medium enterprises are the engine of the Egyptian economy and we want to equip them with the best tools to drive their growth. In just over a year, we have built a huge body of data that does just that and we want to enable many more social entrepreneurs and online marketers to grow their businesses across Egypt and the MENA region,” said Mohamed Elhorishy, co-founder and chief executive officer (CEO) of Taager.
“Pandemic has accelerated the growth of e-commerce quickly and in a relatively short period of time and has driven our platform to a leading position in the market. This was no easy feat in one of the most difficult markets to operate in. We are excited to have some of the world’s leading investors back in our vision as we look to scale and grow our platform across the region. We have world-class talent on our team and look forward to taking the business to new heights in the coming months.”
Peter Orth, co-founder and managing partner of 4DX Ventures, said Taager had achieved very impressive results incredibly quickly, and also built one of the most impressive teams in the ecosystem.
“Their focus on quality and execution, and a very unique approach to empowering e-commerce entrepreneurs is a dominant combination. We are excited to partner with the team on the next phase of the company’s growth,” he said.
