Egypt’s Tejarra Raises Six-Figure Investment from Openner VC
Hosting over 50 vendors offering more than 18,000 electronic products, it’s easy to forget that Tejarra was only created in January 2021.
Global venture capital (VC) firm, Openner, has invested an undisclosed six-figure USD sum into Egyptian electronics e-commerce platform, Tejarra.com, becoming its first partner and investor. Beyond funding, Openner will also provide hands-on technical support. The VC will also bring to the table a wealth of scientific expertise and resources to fortify Tejarra’s marketing and sales operations.
Already hosting over 50 vendors offering more than 18,000 electronic products from vendors, suppliers, and wholesalers, it’s easy to forget that Tejarra only launched in January 2021. The platform sells all sorts of electronic consumer goods ranging from televisions to fitness equipment.
Openner operates as a ‘venture builder’ with a tri-stream approach of building new ventures, investing in existing ones, and partnering with corporations to establish new business models. Founder and General Partner of Openner, Ash Rofail, was energised by Egyptian entrepreneurial youth potential, saying “we believe in what the Egyptian market has to offer, its broad tech-savvy youth segment and their promising and pioneering ideas.”
He continued, “this incentivised us to take our first steps in the Middle East, through Egypt, driven by the rising understanding and rapid growth of the entrepreneurship ecosystem in the country.”
Islam Erfan, the Founder and CEO of Tejarra stated that “in an already fast paced world, with challenges that rise every day, both consumers and retailers around the region are seeking new and innovative shopping and marketing solutions respectively. After closely monitoring both local and regional trends, [the] Tejarra team identified an unfilled space on the ecommerce platforms that would act as our entry point.”
Erfan also added that the partnership with Openner will enable the platform to streamline its market success and solidify its position among other market players.
Tejarra has set a target of EGP 100 million sales by the end of the 2021 fiscal year through their business-to-consumer (B2C) and business-to-business (B2B) solutions.
