The e-commerce market in Egypt is expected to grow 30% to $7.5 billion this year, spurred by a growing number of younger shoppers and rising incomes.
Local merchants are essential in driving this growth and solving their logistical and operational needs end to end is where new upstarts in Egypt notice the most opportunity. Khazenly, founded in mid-2021, is one such startup. It is announcing that it has raised $2.5 million in seed funding.
Khazenly was launched by Mohamed Younes, Osama Aljammali, Mohamed Montasser and Ahmed Dewidar. It is an on-demand digital warehousing and fulfillment management platform that provides an omnichannel solution to help merchants digitize their businesses.
On a call with TechCrunch, chief executive Younes said Khazenly solves fulfillment issues for small and medium-sized merchants who focus on business and consumers. He argues that these merchants don’t have the resources to pull off renting a large warehouse and engage in manual processes when carrying out operations. Thus, Khazenly allows merchants and social commerce retailers to optimize their fulfillment processes digitally when selling online (B2C), via retail stores (B2B), marketplaces, cross-border or a combination of these channels.
“There is no player in Egypt matching the digital experience that we already have to manage both B2C and B2B,” the CEO said. “Though we solve both aspects separately, we are solving a big pain in the market by automating both.”
Younes also touched on the company’s focus on convenience. According to him, this, alongside its multifaceted client approach and data/AI-driven product, sets Khazenly apart from similar platforms in the market such as ShipBlu, Flextock and Bosta. “The combination of all this through the same platform allows us to have a big differentiation,” he said.