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
-
EIB Global and African Development Bank invest US$275 million in Mauritania’s Railway Infrastructure
16:41
-
Cameroon’s Wega Food To Ramp Up Refinery Capacity, Eyes Exports And Reduced Sugar Shortages
16:38
-
Kenya Restructures Rironi–Mau Summit Highway Project
15:38
-
Nigeria and Brazil Agree to Expand Local Pharmaceutical Production
15:30
-
Work On Togo’s Grid Expansion Hits 34% Completion In Kara
14:06
-
Access Bank, Partners, Unveils Project to Support Women Entrepreneurs
14:03
-
Nigeria’s Task Systems Tops 4,000 Global Candidates To Win Microsoft Partner Award
13:40
-
BasiGo’s Plan To Deploy 1,000 Electric Buses Backed by Proparco
13:26
-
South Africa Clears Lesaka’s $63.8 Million Acquisition Of Bank Zero
13:24
-
Togo Reviews 42 New Standards For Key Agri-Food Sectors
13:11
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
US$150 million from the African Development Bank and US$125 million from EIB Global, guaranteed by the European Union, to modernise Mauritania’s main...
Wega Food to boost sugar output to 700 tons/day within three months Company claims expansion will end shortages and enable refined sugar exports...
Kenya restructures the PPP for the 233-kilometer Nairobi–Mau Summit corridor. Two Sino-Kenyan consortia will now split the project after talks for a...
The two countries sign an MoU to boost Nigeria’s capacity to produce medicines and vaccines. The agreement focuses on technology transfer, skills...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...