Egyptian E-commerce Startup Kemitt Launches New B2B Platform
As a marketplace, Kemitt connects consumers - and now businesses - with product and furniture designers, taking care of manufacturing, overheads and last-mile delivery.
In looking to diversify its offerings, Egyptian e-commerce startup, Kemitt, has announced the launch of a new B2B platform, building on the growth of its B2C platform. As a marketplace, Kemitt connects consumers with product and furniture designers, taking care of manufacturing, overheads and last-mile delivery. The platform houses over 30,000 SKUs and offers on-demand manufacturing and 7-12 days delivery.
The new B2C platform will also play host to furniture, home accessories and and material, and aims to simplify procurement through an all-in-one approach that also allows businesses to request quotations from some 400 suppliers. The platform also offers a range of payment options and financial solutions.
“This will be a real game changer in the furniture industry and we are genuinely excited about the way it is going to bring together manufacturers, suppliers, businesses, micro-financing leaders and all the industry stakeholders in one place,” said Mahmoud Fouad, co-founder and CEO. “This is an important step in the evolution of our business.”
That evolution last took a leap in April of 2021, when Kemitt raised an undisclosed seed round led by a group of Saudi angel investors. The funding was said to be channelled into expansion into KSA, alongside the expansion of its team and operations, as well as tech development. Between the raise, the number of SKUs has doubled.
The announcement comes off the back of a fruitful period for ecommerce startups in Egypt, with Brimore closing a $25 million Series A round in January of this year. That raise continued the good form experienced in 2021, with the likes of MaxAB raising $55 million and Capiter raising $33 million.
In fact, ecommerce was one of Egypt’s most prolific sectors when it came to venture capital investments, coming second only to transportation & logistics in the amount of funding raised. Ecommerce startups raised a total of $96 million across 23 deals. There’s still more to come, however, with ecommerce in Egypt predicted to rise by 30% by the end of 2022 and the EGP 80 billion in ecommerce transactions in 2021 expected to be surpassed.
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Feb 20, 2024