Egypt’s MaxAB raises $6.2 mln expansion funding
Friday, 27 September 2019 16:53
MaxAB, an Egyptian online food and grocery platform, has raised $6.2 million from a group of local and foreign investors, Africa Business Communities reports.
Venture capital firm Beco Capital co-led this investment alongside 4DX Ventures, another venture capital firm based in Ghana and the United States. US Endure Capital, the venture capital company 500 Startups, the Moroccan investment firm Outlierz Ventures and other local investors have also committed their capital.
With these resources, MaxAB hopes to strengthen its activity in Egypt within the next two years and seek new markets on the continent. “This investment cycle will allow us to accelerate our growth plans and develop new products and services across North Africa using our e-commerce platform,” commented Belal El-Megharbel (pictured) co-founder and MD of MaxAB.
Chamberline Moko
Live News
-
Togo Introduces Electronic Invoicing and New Taxes in 2026 Budget
17:59
-
Togo Spends CFA247.49 Billion on Public Sector Wages by End-September 2025
17:57
-
Uganda Pledges Open but Regulated Internet Ahead of January Vote
17:54
-
Côte d'Ivoire Plans End-March Census to Close Electricity Access Gap
17:51
-
Morocco to Ban Frozen Sardine Exports From Feb. 1
17:46
-
Egypt Expands Regional Energy Reach With Gas Supply Deal for Lebanon
17:12
-
Guinea Launches Univ Connect to Fiber-Link Universities Nationwide
17:08
-
Golfe 5 Municipality Approves Balanced CFA1.45 Billion Budget for 2026
17:04
-
Togo Imposes 5% Tax on Lottery Winnings Above CFA500,000
11:26
-
Kribi Refinery: Cstar Targets Early Partial Start at 10,000 bpd in H2 2026
07:52
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...
The Ugandan government says it will not restrict Internet access during the January 2026 elections. Authorities emphasize regulation and content...
Côte d’Ivoire will launch a nationwide census to identify unelectrified areas by end-March 2026. The country electrified 95.67% of localities by June...
Morocco will ban frozen sardine exports starting Feb. 1 to protect domestic supply and prices. Sardine landings fell 46% between 2022 and 2024 due to...
Egypt and Lebanon signed a gas supply memorandum for the Deir Ammar power plant in late December 2025. The agreement aims to support Lebanon’s...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...