The startup aims to develop more solutions to expand their operational infrastructure and product development.
Cairo-based social commerce platform Brimore has raised $3.5 million in investment led by Algebra Ventures, and in participation with Disruptech, Vision Ventures, and existing investors 500 Startups, and Flat6Labs.
The end-to-end distribution platform has carved its corner by providing small and medium-sized manufacturers in Egypt access to a nationwide distribution chain of individual sales agents. According to Brimore, the startup currently caters to hundreds of clients across 27 governorates in Egypt to expand their business, industries including FMCGs such as packaged foods, household goods, and personal care.
“I’m proud of the trust our investors are showing in Brimore. We continue to provide unique opportunities to our micro-distributors and suppliers in such a tough time,” says Mohamed Abdulaziz, co-founder and CEO of Brimore. “Our growth strategy was built on strong fundamentals and healthy unit economics which has enabled us to maintain 10x year-on-year growth while facing several challenges, including the COVID-19 pandemic.”
The investment will be used to hone Brimore’s operations and product development to accelerate their growth and expand their network of suppliers and consumers through tech solutions.
“We believe that the large base of consumers in Egypt is best served through customized technology solutions. Brimore is developing world-class technology for our local market which will open up tremendous untapped potential in distribution of goods,” said Tarek Assaad, the Managing Partner of Algebra Ventures.
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