Fatura is a B2B online marketplace that links manufacturers and wholesalers to small retailers across Egypt. The subsidiary of Egyptian financial services provider EFG Holdings has been acquired by e-commerce company MaxAB-Wasoko, which was formed through a merger last year by Egypt-based MaxAB and Kenya-based Wasoko, formerly Sokowatch (see, “Sokowatch nabs $125 million for economic inclusion for Africa’s informal retailers”).
MaxAB and Wasoko both were digitizing and providing stocking and credit solutions for informal retailers; their merger creates a network of over 450,000 informal retailers across Kenya, Tanzania, Rwanda, Egypt and Morocco.
Strategic integration
Fatura’s network of over 626 wholesalers serve 25,000 retailers of fast moving consumer goods across 16 cities in Egypt. Retailers place orders via a mobile app; Fatura aggregates these orders which are delivered via the wholesalers’ own logistics fleet. It had secured $3 million in a pre-Series A round in 2021 to expand into working capital loans for retailers. With the acquisition, MaxAB-Wasoko will solidify its presence in Egypt.
