Gahez Market Raises $ 2 Million in Pre-Incorporation Funding Round Led by Disruptech Ventures
Gahez Market, specializing in ready-to-wear and leather goods e-commerce, raised $ 2 million in a pre-incorporation funding round led by the Disruptech Ventures Fund.
The cycle also included Egypt Ventures, Afropreneur Fund, Tanmeyah, a subsidiary of EFG Hermes, and other strategic angel investors.
Gahez Market was established in 2021 as the first digital platform to digitize the B2B fashion supply chain in the region and was able to expand its operations to 16 governorates across Egypt. It includes more than 15,000 retailers, 142 factories and more than 4,000 storage units. Gahez also works with traditional stores, online vendors and street vendors.
The company operates as an online marketplace aimed at transforming the wholesale distribution platform by streamlining the process between retailers and manufacturers to deliver a new online business cycle by delivering a data-driven approach.
Gahez successfully eases the burden on retailers and simplifies the way they choose their products with supplier sourcing options. In addition, it provides credit facilities to retailers to speed up the collection process through cash settlements with suppliers.
It also takes advantage of underserved street retailers and provides them with smaller transactions to enable them to make purchases through the Gahez platform to enable their negotiating ability and better increase their profit margins.
Given the strong demand from neighboring African countries, Gahez will strive to accelerate its growth and geographic expansion in the region by meeting the needs of different markets.
âOur mission is to revolutionize the way retailers market their stores by relieving management and supply pressures. Gahez offers an ideal opportunity by leveraging technology to grow its business in this vital area, âsaid Wael Alma, founder and CEO of the company.
He explained that the size of the clothing market in Egypt is $ 24 billion, which makes the potential market infinite, in addition to the Egyptian clothing exports, which are worth around $ 2 billion and are exported to the states. United and the EU.
âWe have seen that there is huge potential for growth in these markets, and that this can only happen quickly thanks to the digital world and relying on modern technology. “
âWe are delighted to support Gahez’s business expansion plan through our seat on the board of directors and to share the strategic vision of the company. As the Gahez team paves the way for the digitalization of the wholesale fashion market in the regionâ¦ we are confident that it will be able to achieve its strategic goals â, said Mohamed Okasha, Managing Partner of Disruptech .