Egyptian trade platform Brimore raises $3.5mln growth fund
Thursday, 14 May 2020 13:42
Brimore, an Egyptian trade platform, raised $3.5 million in an operation led by Algebra Ventures and backed by various venture capital and investment firms.
The retail company co-founded in 2017 by Mohamed Abdulaziz, Ahmed Sheikha, and Mahmoud Refaay intends to invest the money in its expansion plan and strengthen its personnel. “With this new round of financing, we will be able to invest more in product development, operational infrastructure, and our growth momentum,” said Mohamed Abdulaziz.
This new round of financing comes one year after the fundraising operation carried out with the American venture capital firm Endure Capital and the Egyptian company Algebra Ventures.
Chamberline Moko
Live News
-
Despite Security Concerns, Expert Says Trans-Saharan Gas Pipeline Is Technically Ready
09:31
-
“We Don’t Just Finance Projects. We Make Them Bankable” — Jean-Arsène Yerima, RCOO, FWA, Afreximbank
09:27
-
By Late Century, Heat Waves Could Grip Much of Africa Year-Round
09:24
-
Flextock secures fresh capital to address logistics bottlenecks in regional online trade
09:19
-
Lagos to host MarkHack 5.0 on 5 June 2026
09:19
-
South Africa launches national cleantech competition with nine province-level challenges
09:16
-
Kenyan Low-Carbon Startups Invited to Join Climate Finance Accelerator
08:44
-
Kenya: VunaPay Introduces Near-Instant Payments for Smallholder Farmers
08:32
-
Cameroon Raises CFA1.3 Trillion, but Market Conditions Turn Tougher
20:24
-
Cameroon’s Public Works Ministry Moves Into New HQ, but Contractors Still Await Payment
20:15
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...
West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...
The fast-growing installment payment market is set to expand sharply across the continent, even as s...
U.S. analyst says TSGP faces no major engineering obstacles despite Sahel security concerns 4,000-km pipeline would link Nigeria’s gas reserves to...
Jean-Arsène Yerima, Regional Chief Operating Officer for Francophone West Africa at Afreximbank, sets out the bank’s strategy to fast-track...
Study projects 250–300 heat wave days annually in most regions by 2065–2100 Land-use change, including deforestation, amplifies extreme...
A funding round secured despite a global slowdown in venture capital Expansion into Saudi Arabia positions the company within one of the world’s...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...