For the first time ever Partnerslundentechcrunch, Capitor is raising $33 million to expand its network of satellite television and internet channels to Cairo-based subscribers. This is the latest step in Capitor’s plan to establish itself as a major player in the global digital entertainment market. Read on to learn more about the company’s plans and team.
Capiter raises $33m
Capiter is an Egyptian e-commerce startup that brings retailers and manufacturers together on a single platform. It uses a hybrid model to ensure scalability. The company serves over 50,000 merchants.
Capiter has raised $33 million in Series A funding. The round was led by Amadeus Capital, Radical Ventures, Temasek and Air Street Capital. Other investors included Accion Venture Lab, FoundationVentures and Shorooq Partners.
Founded by serial entrepreneur Mahmoud Nouh, Capiter connects small and medium-sized businesses (SMEs) with their suppliers. They offer a variety of services, including inventory ordering, delivery, and financing. By using the platform, brands can gain market insights, improve their distribution strategies, and increase efficiencies.
Capiter serves more than 50k merchants in Egypt. They offer solutions for a range of merchant categories, including hotels, restaurants, catering organizations, and electronic stores. In addition, they provide an electronic payment mechanism, allowing merchants to receive credit for their purchases.
Capiter is also developing financial services for its merchants. Through partnerships with local banks, Capiter offers financing options.
As part of its expansion plan, Capiter intends to cover all of Egypt by 2022. It plans to introduce digital finance services in other MENA countries in the future.
Capiter has hired a global team, including expertise from Careem and Flipkart. Capiter’s financial services, along with its advanced technology, offer brands real data and insights.
Capiter’s team
Capiter, a Cairo-based B2B e-commerce startup, is in the throes of a growth spurt. With roughly 1,000 sellers, 6,000 SKUs, and 100 staff, the company has been scaling up quickly. The startup has also recruited expertise from Careem and Flipkart.
The team has managed to wrangle a $33 million round of funding from a handful of high profile investors, including Quona Capital, MSA Capital, Derrayah Ventures, and Savola Group. The company is headquartered in Cairo, with plans to expand to other cities and continents in the coming years. It has already secured partnerships with a few local banks and has hired a slew of high caliber talent. One of the company’s co-founders, Mahmoud Al-Khali, is an entrepreneur aficionado and a former SWVL CEO. Another helmsman is Ahmed Sabbah, founder of early-stage fintech startup Telda.
There’s more to Capiter than meets the eye. They’ve got an extensive network of distributors and suppliers, and offer financial services via a partnership with several local banks. As for the business model, the company has adopted a hybrid approach, allowing retailers to place orders for inventory while allowing the manufacturer to provide credit into the system. Besides, Capiter is also a marketplace – aggregating retailers and wholesalers alike, so there’s no need for a supplier to go through the trouble of negotiating a deal with a retailer.
Capiter’s plans
Capiter is a digital finance startup that provides the aforementioned aforementioned. The company uses technology to help retailers, wholesalers, and manufacturers tap into the financial services that were once only available in the banks. Its business model is a hybrid, with some revenue derived from commissions on the working capital provided to its merchants, while others are derived from rebates and data services offered to its suppliers.
In its quest to make the best possible ecommerce experience for its merchants, Capiter is on a path to becoming the hottest B2B ecommerce platform in the Middle East. Currently, Capiter serves a customer base of over 50,000 merchants, with plans to expand its offerings to Egypt in the near future. A recent $33 million funding round by the likes of Quona Capital, MSA Capital, Savola Group, and Shorooq Partners, helped fuel its growth.
Capiter demonstrates its mettle by offering a suite of financial products via partnerships with local banks. Unlike a traditional B2B ecommerce platform, Capiter has a unique and scalable approach, which is what makes it stand out from the rest. Among its many features are a matching mechanism to improve customer service, smart supply chain management, and a suite of tools to help merchants make informed and timely decisions.
