{"id":543439,"date":"2022-02-01T04:01:08","date_gmt":"2022-02-01T04:01:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/"},"modified":"2022-02-01T04:01:08","modified_gmt":"2022-02-01T04:01:08","slug":"brimore-secures-usd-25-mn-in-series-a-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/","title":{"rendered":"Brimore secures USD 25 mn in series A funding"},"content":{"rendered":"

<\/a> Social commerce startup <\/strong>Brimore<\/a><\/strong> has raised USD 25 mn in series A funding<\/strong>, the company announced in a statement (pdf)<\/a> yesterday. The round was led by the International Finance Corporation and Silicon Valley VC Endure Capital<\/a>, and featured participation from Fawry<\/a>, Flourish<\/a>, and Endeavor Catalyst Fund<\/a>, as well as existing investors such as Algebra Ventures<\/a>, Disruptech<\/a>, Khawarizmi Ventures<\/a> and Vision Ventures<\/a>.<\/p>\n

About the company:<\/strong> Launched in 2019, Brimore is a social distribution network that allows SME manufacturers to sell fast moving consumer goods via a network of freelance distributors, who sell to customers in their local communities. The company has built a network of almost 75k resellers in 27 cities across Egypt in the three years since its founding, and lists some 8k products.<\/p>\n

Expansion plans:<\/strong> Brimore says it will use the funding to quadruple its network of sellers and suppliers and double the size of its team. It is also aiming to enter two new African markets by 2023, the statement said, without providing specifics. \u201cIn the past three years, we\u2019ve focused on building a smart and reliable infrastructure that enables the masses to do their commerce businesses,\u201d said Mohamed Abdelaziz, CEO and co-founder of Brimore. \u201cWe\u2019ll be using the fresh fund to scale our infrastructure, enabling many more people to continue their journey of 50x growth by 2023.\u201d<\/p>\n

The investment comes less than two years after the company <\/strong>raised USD 3.5 mn<\/a><\/strong> in a pre-series A round<\/strong> led by Algebra Ventures. Algebra has backed the startup from the beginning, co-leading its initial USD 800k seed round<\/a> in 2019. \u201cWe came in on the first round of investment and invested in every subsequent round, to ensure that the growth momentum stays on track,\u201d said Algebra managing partner Tarek Assaad. \u201cAs Brimore experienced explosive growth over the past three years, Algebra has worked closely with the company to support in strategic and operational areas, especially recruitment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Social commerce startup Brimore has raised USD 25 mn in series A funding, the company announced in a statement (pdf) yesterday. The round was led by the International Finance Corporation and Silicon Valley VC Endure Capital, and featured participation from Fawry, Flourish, and Endeavor Catalyst Fund, as well as existing investors such as Algebra Ventures, […]<\/p>\n","protected":false},"author":1,"featured_media":543440,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[398,765,199,764,72,759,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-algebra-ventures","tag-brimore","tag-e-commerce","tag-endure-capital","tag-enterpriseam","tag-international-finance-corporation","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"01cad9c8-f5db-4b8d-9200-9e5e0cc981be","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/6.jpg","photo_position":"above","related_issue":[543426],"teaser":"","voice_url":""},"yoast_head":"\nBrimore secures USD 25 mn in series A funding - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brimore secures USD 25 mn in series A funding\" \/>\n<meta property=\"og:description\" content=\"Social commerce startup Brimore has raised USD 25 mn in series A funding, the company announced in a statement (pdf) yesterday. The round was led by the International Finance Corporation and Silicon Valley VC Endure Capital, and featured participation from Fawry, Flourish, and Endeavor Catalyst Fund, as well as existing investors such as Algebra Ventures, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-01T04:01:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Brimore secures USD 25 mn in series A funding\",\"datePublished\":\"2022-02-01T04:01:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\"},\"wordCount\":319,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Algebra Ventures\",\"Brimore\",\"e-commerce\",\"Endure Capital\",\"EnterpriseAM\",\"International Finance Corporation\",\"Startup watch\",\"startups\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\",\"name\":\"Brimore secures USD 25 mn in series A funding - 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Flat6Labs, Disruptech, Vision Ventures and 500 Startups also participated in the round. The investment comes a year after the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557496,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/","url_meta":{"origin":543439,"position":1},"title":"Fawry acquires minority stake in social commerce startup Brimore","author":"enterpriseam admin","date":"21 September 2021","format":false,"excerpt":"Egyptian e-payments giant Fawry has acquired a minority stake in social commerce company Brimore for EGP 15.7 mn, Fawry said in a statement to the bourse (pdf), without disclosing what that sake represents in percentage terms. 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Though the company did not specify how the funds would be deployed, co-founder Ali Nasser told the tech outlet that he wants ShipBlu\u2019s network and infrastructure to span\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/288.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544386,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/brimore-invests-usd-5-mn-in-a-pre-seed-round-for-logistics-arm-milezmore-milango-acquires-rival-circle\/","url_meta":{"origin":543439,"position":5},"title":"Brimore invests USD 5 mn in a pre-seed round for logistics arm Milezmore + Milango acquires rival Circle","author":"enterpriseam admin","date":"1 March 2022","format":false,"excerpt":"Social commerce startup Brimore has invested USD 5 mn in a pre-seed round for its delivery and logistics services arm Milezmore, the company announced in a press release (pdf). 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