MaxAB, a North African B2B e-commerce platform, secured several million dollars in Pre-A funding from Qingtian Capital to enhance its operations and expand throughout the region.

Target Information

MaxAB, a North African B2B e-commerce platform headquartered in Cairo, Egypt, has successfully raised several million dollars in a Pre-Series A funding round led by Qingtian Capital. Launched in November 2018, MaxAB connects small, decentralized retailers with brands, enabling grocery store owners to procure products online through its mobile application. The platform manages logistics and distribution, streamlining the supply chain process which is traditionally inefficient and costly.

Over the past year, MaxAB has experienced remarkable growth, with its gross merchandise volume (GMV) increasing more than twentyfold and a month-over-month growth rate of nearly 30%. The platform currently serves over 22,000 grocery stores in Cairo and aims to gradually expand throughout North Africa and the Middle East after solidifying its presence in Egypt.

Industry Overview

In Egypt, retail sales continue to be dominated by small grocery stores known as "夫妻店" (husband-and-wife stores), accounting for over 90% of the sector's revenue. The supply chain that connects brands to these small retai