Mazaya the first B2B e-commerce site that focuses on electronics has just completed a $5 million pre-seed round, led by Raya Trade & Distribution, a division of Raya Holding for Financial Investments.
With the money from this round, Mazaya can expand its operations in Egypt and maybe even move into other industries or new markets.
With the Mazaya App, retailers and wholesalers of electronics and appliances can easily buy products from all the major brands at low prices for their stores. They can also use Mazaya to get services that add value to their business.
The CEO of Raya Trade and Distribution said that the company had been a leader in trade and distribution for a long time. They are especially proud of their investment in the platform that has completely changed the industry by giving traders and merchants the best services possible and working with their successful partners.
He also said that the platform helps small business owners who don’t have access to the right services by assisting them in growing their business by giving them access to a wide range of electronic devices from local and international brands with the click of a button.
The B2B e-commerce market is snowballing because online services are becoming more important for merchants and traders to meet their business needs. After all, orders are done digitally, which makes buying more efficient and effective.
Due to the rising cost of devices, many businesses buy them in installments. The Financial Regulatory Authority says that the number of people who want to pay for electronics in installments has increased. According to the Financial Regulatory Authority, Egypt paid EGP 4.9 billion in installments for cell phones and other electronic devices in the first five months of 2022.
Since its founding in Egypt in 2021, Mazaya has established partnerships with over 6,000 retail establishments, fulfilled 30,000 orders with a total gross merchandise value of $15 million, and currently stocks more than 1,000 different stock-keeping units (SKUs).
Mazaya intends to provide financial guidance and support to its retailers to help them scale their operations.
Mazaya intends to make it easy for people to manage their finances by offering collection and payment services in addition to various loan facilities and flexible cost structures based on their payment history. Mazaya will continue to give retailers and merchants superior and efficient services to aid them in facilitating and expanding their businesses to build Egypt as a leading technological hub.