The platform intends to fuel growth of its user base and increase its verticals.
Egyptian online shopping platform, Brantu, has revealed that it has raised a seven-figure Series A funding round, led by the Cairo-based Sawari Ventures. Launched in 2019 by Mohamed Rizk and Fredrik Granström, the platform acts as an all-encompassing fashion marketplace where local and international brands can set-up shop to reach Egyptian customers.
Brantu was initially launched as a mobile-first platform and quickly gained popularity among customers for its fast delivery and its offer of free returns. Since then, it has managed to gather over 20,000 users and over 70 brands, doing so with limited funding. The investment come at an opportune time, with digitisation sweeping across the whole region and putting ecommerce front-and-centre.
"We are changing the Egyptian consumer habit of buying fashion online,” Rizk, who is also CEO, said. “Before Brantu, fashion consumers bought through international/cross-border websites, facing the issues of long delivery times and customs or local general merchandise platforms whose assortment and appeal do not cater to fashion consumers. We are providing speedy delivery, trendy products & appealing content to Egypt's mass population, serving millions of fashion shoppers.”
The investment marks a remarkable turnaround for Rizk and Granström, who had previously launched price comparison platform, ElPrices, in 2016, before shutting it down in 2019 to make way for Brantu. With their new investment, the duo plan to grow its user base and increase its verticals.
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