MaxAB, an Egyptian B2B retail service provider, secured $40 million in Series A funding to enhance supply chain capabilities and expand its operations in the MENA region.

Target Information

MaxAB, a B2B retail service provider based in Egypt, has successfully secured $40 million in its Series A funding round. This investment marks one of the highest amounts for a Series A round in the Middle East and North Africa (MENA) region. Founded in 2018 by El-Megharbel and Mohamed Ben Halim in Cairo, MaxAB focuses on supplying grocery stores with procurement and delivery services. Through its platform, physical retailers can purchase goods, request delivery, and engage with customers.

The co-founder, El-Megharbel, emphasizes that grocery retail constitutes a significant portion of Egypt's GDP, with over 400,000 individual stores selling 90% of the country's retail groceries. However, there exists a mismatch between supply and demand, making it challenging for small merchants to source products. MaxAB aims to address this issue by optimizing supply chains through technology.

Industry Overview in Egypt

The retail sector in Egypt represents a rapidly growing market, with an estimated annual value of around $200 billion. Despite its robust potential, this industry faces significant challenges, prim