Founding

MaxAB was founded in 2018 by Belal El-Megharbel , formerly General Manager of Careem Cairo, and Mohamed Ben Halim, formerly of Aramex .

Basic Information

MaxAB 's customers are small retailers in Egypt. MaxAB currently has 60 trucks, 270 employees, 9,000 retail customers, and a large warehouse in Cairo. The company has designed an on-demand inventory model that ensures three to four days of additional inventory.

MaxAB has built an inventory of more than 600 products, including groceries, beverages, dairy products and confectionery. Its goal is to develop the $ 45 billion fast-moving consumer food retail market through automation, and claims to have achieved month-on-month growth, with 9,000 active retailers on the platform .

Merchants using MaxAB have access to its real-time demand monitoring and business intelligence tools, which improve end-to-end supply chain control and forecasting.

Financing

In 2019 , Cairo-based B2B e-commerce MaxAB announced that it had received $ 6.2 million in seed funding, the largest seed round ever for a Middle East and North African technology startup, which shows the market's confidence in it. Investors included Dubai-based Beco Capital (also an investor in Egypt's startup star Swvl ), Africa-focused 4DX Ventures and Endure Capital , and Morocco-based Outlierz Ventures . Among them, 4DX Ventures led the investment in Kenyan B2B supply chain startup Sokowatch , which has a similar model to MaxAB .

References