E-Commerce is expected to grow by 30% this year to reach a total of $7.5 billion in Egypt, according to research conducted by RMBC Keneoka for TechCrunch. This is a positive development for both local businesses and investors. However, the growth of e-commerce in Egypt has not always been easy, as the country is still adjusting to the challenges of the economic downturn. Some companies have struggled to attract investors, and others have failed to meet the high expectations of their potential clients.
QED Investors
QED Investors is a venture capital firm that specializes in investing in early-stage financial technology companies. The firm’s fund is currently managed with $4.3 billion in assets. It has invested in more than 200 companies across 16 countries, and has backed more than 150 startups, including 26 unicorns.
The company’s portfolio includes a variety of startups, including car sales companies, cross-border trucking logistics, and shrimp farming. They also invest in high-growth businesses using information technologies. Since its inception, QED has been a leader in the fintech investing community.
Founded by Nigel Morris, former CEO of Capital One Financial Services, and Frank Rotman, former CEO of NuBank, the fund has been focused on investing in companies that disrupt traditional financial services. As such, the firm has invested in some of the biggest and most successful startups in the financial industry, including Credit Karma, SoFi, Red Ventures, Remitly, AvidXchange, and Nubank.
TeamApt
TeamApt is one of the biggest fintechs in Africa. It’s got a pretty impressive portfolio of banking and financial services products and services. The company provides a variety of business management tools including expense management, expense tracking, insurance, accounting solutions, and banking platforms. The company is also looking to expand its offerings to micro-SMEs.
The company aims to improve the way banks and other financial institutions operate their back-office operations. This is accomplished by leveraging securitization structures and multiple lending partnerships. For example, in addition to providing its own lending platform, TeamApt will also integrate its lending technology with Moniepoint.
Convertedin
It’s not often that we see a tech company making the big cut at the Vegas shindig. One of the more notable companies is the aforementioned fintech maven, which is backed by the aforementioned and the illustrious duo of uber rich moguls. For a company founded in the early days of the republic, they’ve got a tough act to follow, but one cannot help but be impressed by the caliber of talent in the know. The company has made it a point to keep their best and brightest at the helm. And with a budget of a mere $3 million, they are more than capable of delivering a winning ring in no time.
E-commerce market in Egypt expected to grow 30% to $7.5 billion this year
E-commerce is a rapidly growing sector in Egypt. It provides convenience and scalability. The Egyptian e-commerce market is projected to grow 30% this year and be worth 7.5 billion US dollars by the end of 2022.
The Egyptian e-commerce sector is dominated by Btech and Amazon. While many international players operate in the country, there is also a large domestic industry. In fact, it is estimated that e-commerce will make up almost a quarter of the total population in five years.
With a population of 102 million, Egypt has a relatively young workforce. Its economy is growing at about 7% per year. The economy is largely private. Most of the crops are grown by farmers, including cotton and sugar beets. Other common crops are wheat and onions.