Egyptian B2B eCommerce Platform SPEED Acquired by X-ERA

The UAE-based logistics tech firm X-ERA has accomplished its takeover of the Egyptian business-to-business (B2B) eCommerce platform SPEED, Martechvibe reported Thursday (Nov. 10).

The Emirati logistics agency will now retool the SPEED platform to create a greater consumer expertise for its clients, principally small and medium-sized grocery retailers. X-ERA is planning to develop the know-how and develop the platform, per the report.

“By the re-launch, the SPEED app would get a brand new branding and identification, enhancing its USP for the small and medium-sized grocery retailer house owners it serves” X-ERA CEO Mahmoud El-Enani acknowledged.

Final month, one other Egyptian B2B eCommerce market for small grocery retailers, MaxAB, closed a $40 million pre-series B funding spherical to gasoline its enlargement throughout the Center East, North Africa and Pakistan (MENAP) area.

Learn on: B2B Marketplace MaxAB Raises $40M for MENAP Expansion

Commenting on the elevate, Belal El-Megharbel, the CEO and co-founder of MaxAB, mentioned: “Inside simply 4 years of operations, we now have been capable of re-engineer the casual meals and grocery market in Egypt and Morocco.

“We're enthusiastic about venturing into the subsequent stage of the MaxAB journey, which is additional consolidation of the casual grocery sector, heavy focus and investments in FinTech and replicating our success in new markets to develop past borders,” he added.

With a presence within the main cities of Egypt and Casablanca in Morocco, MaxAB mentioned in a press launch that it plans to develop its protection in Morocco and department into Saudi Arabia by the top of 2023.

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https://www.pymnts.com/information/investment-tracker/2022/egyptian-digital-lender-blnk-raises-32-million-dollars/partial/



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