{"id":550017,"date":"2022-10-11T03:48:22","date_gmt":"2022-10-11T03:48:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/"},"modified":"2022-10-11T03:48:22","modified_gmt":"2022-10-11T03:48:22","slug":"capiters-co-founders-take-legal-action-against-board-over-their-dismissal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/","title":{"rendered":"Capiter\u2019s co-founders take legal action against board over their dismissal"},"content":{"rendered":"

<\/a> Capiter meltdown could end up in court: <\/strong>The two co-founders of B2B e-commerce startup Capiter have filed a lawsuit with the public prosecutor\u2019s office against the company\u2019s board of directors over their recent firing, co-founder Mahmoud Nouh told Bloomberg Asharq (watch, runtime: 8:19<\/a>). The pair were dismissed by the board in September amid accusations of financial impropriety at the crisis-stricken firm.<\/p>\n

A recap for nonresidents of Planet Startup:<\/strong> The Nouh brothers were dismissed last month<\/a> by the company\u2019s board, which in a statement said they had failed to attend board meetings or to fulfill their fiduciary duties. The firing came amid a storm of allegations on social media accusing the two brothers of financial impropriety at the high-profile company, which last year raised USD 33 mn<\/a> from regional and global investors.<\/p>\n

The Nouhs\u2019 case:<\/strong> In their complaint to prosecutors, the Nouhs argue that their dismissal was illegal as they never received formal notification of it from the board, which they allege deliberately and unlawfully sought to isolate them from the business, Mahmoud told the broadcaster. They refute the board\u2019s claim that they stopped showing up to board meetings, saying they attended three separate meetings in the week leading up to their dismissal. The pair are seeking compensation for damages, Nouh said.<\/p>\n

The brothers wanted to liquidate Capiter <\/strong>when it became clear that the startup would no longer be able to fulfill its obligations, including those to employees \u2014 but the board refused, Mahmoud claims, blaming global economic trouble spurred by the war in Ukraine for the company\u2019s downfall. He declined to say how much Capiter owes, but said it was the board that had failed to fulfill its financial obligations after dismissing him and his brother, noting that employees still haven\u2019t received their August salaries.<\/p>\n

The Nouhs want to know who fired up the rumor mill: <\/strong>The lawsuit also demands an investigation into the source of social media allegations that the brothers had embezzled funds from the company. \u201cTens and thousands of companies fold, but it doesn\u2019t need to be due to a problem or a scandal \u2026 the complaint will investigate who is behind this fake news\u201d on social media, Nouh said.<\/p>\n

The brothers want board members to go on the record about what happened: <\/strong>\u201cThe investigation will reach the heads of the funds [who invested in Capiter] in efforts to get to the bottom of what happened and find out who is responsible for the company going to ruin,\u201d he said. Quona Capital and MSA Capital led the USD 33 mn series \u2018A\u2019, with participation from Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures.<\/p>\n

Mahmoud sought to dispel the idea that the co-founders \u201cfled\u201d the country: <\/strong>Capiter has a branch in the UAE and there are no restrictions on which country company execs can work from, Mahmoud said, adding that he often worked from abroad before the scandal broke and has a visa to stay in the Emirates. The brothers had received threats in Egypt thanks to the social media storm, he claimed.<\/p>\n

Nouh also claimed that Capiter\u2019s HQ has been looted since their dismissal<\/strong>, alleging that assets including money and company documents have been stolen.<\/p>\n

What\u2019s next? <\/strong>The Nouhs say they\u2019re still calling for liquidation so the company can pay some of the money it owes, especially to employees. Meanwhile, Capiter\u2019s board is discussing its response to the allegations, Al Sharq quotes interim CEO (and former CFO) Majid El Ghazouli as saying. The board said last month that internal and external investigations had been launched into the scandal, but Mahmoud told Asharq he and his brother have received no official notification of any ongoing investigations.<\/p>\n

There have been reports that Capiter could get hoovered up: <\/strong>Saudi fintech platform Sanad Cash<\/a> reportedly wants to acquire 60%<\/a> of the startup, offering to clear out Capiter\u2019s debt in return for the shares. Key investor Quona Capital could also be in the frame to buy 70-80%<\/a> of Capiter\u2019s shares.<\/p>\n

About Capiter: <\/strong>Capiter caters to micro and small businesses in the food and beverage, FMCG and consumer electronics segments. It has a multi-headed business model: You can think of it as a marketplace in which businesses can order inventory, arrange delivery, and access buy-now-pay-later (BNPL) financing facilities through one app.<\/p>\n

Want more? <\/strong>We dive deeper into what all this means for the local startup scene in our What\u2019s Next vertical, here<\/a> and here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Capiter meltdown could end up in court: The two co-founders of B2B e-commerce startup Capiter have filed a lawsuit with the public prosecutor\u2019s office against the company\u2019s board of directors over their recent firing, co-founder Mahmoud Nouh told Bloomberg Asharq (watch, runtime: 8:19). The pair were dismissed by the board in September amid accusations of […]<\/p>\n","protected":false},"author":1,"featured_media":550018,"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":[1321,72,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-capiter","tag-enterpriseam","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"7c5e3f0d-4cdd-43d5-89e9-d9b3ad06978f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/184.jpeg","photo_position":"above","related_issue":[550011],"teaser":"","voice_url":""},"yoast_head":"\nCapiter\u2019s co-founders take legal action against board over their dismissal - 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\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capiter\u2019s co-founders take legal action against board over their dismissal\" \/>\n<meta property=\"og:description\" content=\"Capiter meltdown could end up in court: The two co-founders of B2B e-commerce startup Capiter have filed a lawsuit with the public prosecutor\u2019s office against the company\u2019s board of directors over their recent firing, co-founder Mahmoud Nouh told Bloomberg Asharq (watch, runtime: 8:19). The pair were dismissed by the board in September amid accusations of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-11T03:48:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Capiter\u2019s co-founders take legal action against board over their dismissal\",\"datePublished\":\"2022-10-11T03:48:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\"},\"wordCount\":754,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1\",\"keywords\":[\"Capiter\",\"EnterpriseAM\",\"Startup watch\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\",\"name\":\"Capiter\u2019s co-founders take legal action against board over their dismissal - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1\",\"datePublished\":\"2022-10-11T03:48:22+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Capiter\u2019s co-founders take legal action against board over their dismissal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Capiter\u2019s co-founders take legal action against board over their dismissal - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/","og_locale":"en_US","og_type":"article","og_title":"Capiter\u2019s co-founders take legal action against board over their dismissal","og_description":"Capiter meltdown could end up in court: The two co-founders of B2B e-commerce startup Capiter have filed a lawsuit with the public prosecutor\u2019s office against the company\u2019s board of directors over their recent firing, co-founder Mahmoud Nouh told Bloomberg Asharq (watch, runtime: 8:19). The pair were dismissed by the board in September amid accusations of […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-10-11T03:48:22+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Capiter\u2019s co-founders take legal action against board over their dismissal","datePublished":"2022-10-11T03:48:22+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/"},"wordCount":754,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1","keywords":["Capiter","EnterpriseAM","Startup watch"],"articleSection":["Startup watch"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/","name":"Capiter\u2019s co-founders take legal action against board over their dismissal - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1","datePublished":"2022-10-11T03:48:22+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/capiters-co-founders-take-legal-action-against-board-over-their-dismissal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Capiter\u2019s co-founders take legal action against board over their dismissal"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/184.jpeg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":549268,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/capiter-board-fires-ceo-coo-as-company-looks-set-to-become-first-casualty-of-slowdown-on-planet-startup\/","url_meta":{"origin":550017,"position":0},"title":"Capiter board fires CEO, COO as company looks set to become first casualty of slowdown on Planet Startup","author":"enterpriseam admin","date":"11 September 2022","format":false,"excerpt":"The board of directors of B2B e-commerce startup Capiter has fired the company\u2019s co-founders \u201ceffective immediately,\u201d according to a statement (pdf) issued on Friday. Capiter CFO Majid El Ghazouli (LinkedIn) will become interim CEO until \u201cthe Nouh brothers return and allay the concerns of employees, suppliers, creditors and stakeholders,\u201d the\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\/2022\/9\/176.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549775,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/29\/another-suitor-for-capiter\/","url_meta":{"origin":550017,"position":1},"title":"Another suitor for Capiter?","author":"enterpriseam admin","date":"29 September 2022","format":false,"excerpt":"Is Saudi fintech Sanad Cash moving in on Capiter? Saudi fintech platform Sanad Cash wants to acquire 60% of crisis-stricken B2B e-commerce startup Capiter, Al Mal reported last night, citing sources it claims are familiar with the matter. Sanad is reportedly offering to clear out Capiter\u2019s debt in return for\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\/2022\/9\/428.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567341,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/20\/former-swvl-co-founder-mahmoud-nouh-launches-fintech-startup-capiter\/","url_meta":{"origin":550017,"position":2},"title":"Former Swvl co-founder Mahmoud Nouh launches fintech startup, Capiter","author":"enterpriseam admin","date":"20 January 2020","format":false,"excerpt":"STARTUP WATCH- Swvl co-founder and former COO Mahmoud Nouh has launched a fintech startup called Capiter, months after leaving Swvl to \u201cpursue new personal goals,\u201d Menabytes reports. Nouh is listed as Capiter\u2019s co-founder and CEO, working alongside co-founder and COO Ahmed Nouh. According to its website, Capiter reads like a\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":575464,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/15\/egypts-e-commerce-startup-capiter-to-invest-egp-500-mn-in-2021\/","url_meta":{"origin":550017,"position":3},"title":"Egypt\u2019s e-commerce startup Capiter to invest EGP 500 mn in 2021","author":"enterpriseam admin","date":"15 October 2020","format":false,"excerpt":"STARTUP WATCH- E-commerce company Capiter plans to invest EGP 500 mn next year to expand its geographical presence and the network of its SME clients, CEO and founding partner Mahmoud Nouh said, according to Al Mal. The Cairo-based company, which was founded in May 2019, operates an app that connects\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":557303,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/b2b-e-commerce-platform-capiter-raises-usd-33-mn-for-expansion-in-series-a-round\/","url_meta":{"origin":550017,"position":4},"title":"B2B e-commerce platform Capiter raises USD 33 mn for expansion in series A round","author":"enterpriseam admin","date":"14 September 2021","format":false,"excerpt":"Cairo-based B2B e-commerce startup Capiter has raised USD 33 mn in a series A funding round co-led by Quona Capital and MSA Capital, according to an emailedstatement (pdf). Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures also took part in the round.This is one of the largest\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\/9\/180.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553985,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/15\/what-capiters-cofounder-mahmoud-nouh-learned-from-co-founding-swvl\/","url_meta":{"origin":550017,"position":5},"title":"What Capiter\u2019s cofounder Mahmoud Nouh learned from co-founding Swvl","author":"enterpriseam admin","date":"15 December 2021","format":false,"excerpt":"What Capiter\u2019s co-founder Mahmoud Nouh learned from co-founding Swvl: B2B e-commerce marketplace Capiter recently made headlines for raising USD 33 mn in one of Egypt\u2019s largest series A investment rounds. Officially launched in July 2020, Capiter brings a hybrid business model to the B2B e-commerce market combining the operations, marketplace\u2026","rel":"","context":"In "Spotlight"","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/349.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550017"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550017\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550018"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550017"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550017"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}