If you’re interested in learning more about the latest technology and the businesses that are shaping it, you’re in luck Azevedotechcrunch. In this article we’re going to tell you all about a Cairo-based company that is doing just that. We’re also going to talk about the plans for its expansion.
Mahmoud Nouh
Capiter is an e-commerce platform that brings together wholesalers, manufacturers, and retailers. It allows businesses to order inventory, arrange for delivery, and receive financing. This is a particularly apt startup for the Middle East as it’s a great way to get started in the region.
A startup based in Cairo raised $33 million in Series A funding last September. Capiter is backed by Quona Capital, MSA Capital, and Foundation Ventures. The company aims to expand its digital finance offerings across Egypt by 2022.
Its CEO, Mahmoud Nouh, was a former COO at ride-hailing unicorn Swvl. He has also founded two of the largest startups in the Middle East, including Nubank. However, Capiter has encountered a number of hiccups over the past year.
Last summer, the company laid off dozens of employees in what some have called a mismanagement scandal. Some of the company’s employees have claimed that Capiter is in debt to its creditors. Founders are also accused of blocking key bank account access and email accounts for important employees. Eventually, the board decided to fire the co-founders and appoint a new management team.
As a result, Capiter has been unable to pay its staff their salaries in August. They claim that the board failed to follow due process in determining a change of control, which they say was necessary to avoid liabilities.
Business model
Cairo-based Capiter is a B2B e-commerce platform that brings together manufacturers and wholesalers. The platform allows retailers to order inventory, pay for goods, and get financing.
In addition to providing financial services, Capiter also uses machine learning and cutting-edge technology to provide insights into markets. The platform has a team of expert researchers who help manufacturers refine their distribution strategies. It provides an integrated finance solution to help SMEs thrive.
Capiter has raised millions of dollars in investments so far. Its largest investor is the Savola Group. Other investors include Derrayah Ventures, Foundation Ventures, and Shorooq Partners.
Capiter uses a hybrid model, which means that its revenues are derived from little margins on products sold to merchants. This is in contrast to traditional B2B e-commerce platforms, which operate in a highly asset-light model.
Capiter is an aggregator of fast-moving consumer goods companies and retail brands. They also provide a platform for small and medium retailers to order and pay for inventory. As a result, the company boasts over 50,000 merchants and 1,000 SKUs.
A recent funding round saw Capiter raise $33 million from MSA Capital, Quona Capital, and other investors. They plan to expand their business in the coming years, as well as launch in Egypt.
Capiter is a competitor to other B2B e-commerce services in the region, including MaxAB and Wasoko. Nevertheless, the startup stands out for its multi-product offering, its innovative use of technology, and its business model.
Expansion plans
Capiter is a Cairo-based B2B e-commerce platform for retailers and wholesalers. It provides merchants with credit through partnerships with local banks, and enables them to order inventory, pay for goods, and schedule delivery. With over 6,000 SKUs (stock keeping units), Capiter serves over 50,000 merchants. In addition to providing financial services, Capiter also uses technology to provide merchants with insights into the markets it serves.
The startup aims to grow into various verticals, including agriculture, pharmaceutical, and consumer goods. Its product helps retailers identify peak seasons for specific products. Additionally, the company provides customized solutions to each type of merchant. Capiter employs a hybrid model, which combines finance and technology to optimize income for SMEs.
Since its launch in August of last year, Capiter has raised millions in investment funds. Last September, the startup secured $33 million in Series A funding. This funding round was led by MSA Capital and Quona Capital. Other investors included Foundation Ventures, Derrayah Ventures, and Shorooq Partners.
The startup competed in the growing B2B e-commerce space. Capiter focuses on the fast-moving consumer goods industry and has over 50,000 merchants and 1,000 sellers. However, it has had to lay off multiple employees in the last two months.
Capiter’s founders have been accused of finger pointing and lack of transparency. In a report for TechCrunch, they claimed they were putting the company on track for $1 billion in revenue this year. Meanwhile, the company’s employees have expressed displeasure on LinkedIn.
