{"id":557496,"date":"2021-09-21T04:00:14","date_gmt":"2021-09-21T04:00:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/"},"modified":"2021-09-21T04:00:14","modified_gmt":"2021-09-21T04:00:14","slug":"fawry-acquires-minority-stake-in-social-commerce-startup-brimore","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/","title":{"rendered":"Fawry acquires minority stake in social commerce startup Brimore"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egyptian e-payments giant Fawry has acquired a minority stake in social <\/strong><strong>commerce company <\/strong><strong><a href=\"https:\/\/brimore.com\/\">Brimore<\/a><\/strong> <strong>for EGP 15.7 mn<\/strong>, Fawry said in a <a href=\"https:\/\/ent.news\/2021\/9\/Fawry-Brimore-EN.pdf\">statement to the bourse (pdf)<\/a>, <sup><\/sup>without disclosing what that sake represents in percentage terms. The investment was made as part of an upcoming series A funding round by Brimore.<\/p>\n<p><strong>What will Fawry bring to Brimore? <\/strong>The acquisition will see Fawry introduce its 230k-strong network of merchants to Brimore\u2019s distribution platform, while Brimore clients will be able to access Fawry\u2019s digital payments and financial services. \u201cMoving forward, we aim to offer Fawry\u2019s full suite of financial solutions to our partners at Brimore, their network of distributors, and their customer base,\u201d said Fawry CEO Ashraf Sabry, adding that the transaction comes in line with the company\u2019s strategy to expand its digital services and gain a foothold in e-commerce. Further cooperation is also planned between Brimore and Fawry verticals working in commerce and fast-moving consumer goods.<\/p>\n<p><strong>Brimore has probably been on Fawry\u2019s radar for a while:<\/strong> Disruptech, a USD 25 mn fintech fund set up by former Fawry top exec Mohamed Okasha <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7265fa0d-479b-4d52-9586-7468209b34d0\">invested<\/a> in Brimore in 2020, marking the fund\u2019s first investment. The transaction was part of Brimore\u2019s USD 3.5 mn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66f9d72d-beec-475f-8868-41270e5b6a6d\">pre-series A round<\/a> led by Algebra Ventures. A year earlier, Brimore <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/02\/algebra-ventures-co-leads-usd-800k-seed-funding-round-for-brimore\/\">secured USD 800k<\/a> in seed funding in a round led by Algebra and Endure Capital.<\/p>\n<p><strong>What does Brimore do? <\/strong>The company\u2019s social platform connects independent sellers with SME manufacturers to help suppliers streamline distribution and access new markets. Its freelance distributors order products direct from SME suppliers in bulk to sell to the local community out of their homes.<\/p>\n<p>*** <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a027f8b6-8d6a-4ef1-a61b-3687dc0b397f\">Tap \/ click here<\/a><\/strong><strong> to read our interview with Brimore CEO and cofounder Mohamed Abdelaziz<\/strong> back in March when he told us how the company is working to solve Egypt\u2019s supply-chain challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. The investment was made as part of an upcoming series A funding round by Brimore. What will Fawry bring [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":557497,"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":[7363],"tags":[765,199,72,519,183,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-brimore","tag-e-commerce","tag-enterpriseam","tag-fawry","tag-fintech","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"fd27902a-6c92-4421-ad44-2a3d1b0a4551","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/288.jpg","photo_position":"above","related_issue":[557490],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fawry acquires minority stake in social commerce startup Brimore - 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\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry acquires minority stake in social commerce startup Brimore\" \/>\n<meta property=\"og:description\" content=\"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. The investment was made as part of an upcoming series A funding round by Brimore. What will Fawry bring [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-21T04:00:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/288.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\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fawry acquires minority stake in social commerce startup Brimore\",\"datePublished\":\"2021-09-21T04:00:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/\"},\"wordCount\":315,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/288.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Brimore\",\"e-commerce\",\"EnterpriseAM\",\"Fawry\",\"Fintech\",\"M&amp;A Watch\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/21\/fawry-acquires-minority-stake-in-social-commerce-startup-brimore\/\",\"name\":\"Fawry acquires minority stake in social commerce startup Brimore - 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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\u2026","rel":"","context":"In &quot;Startup watch&quot;","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\/2\/6.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570920,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/disruptech-fintech-fund-makes-its-first-investment-in-two-egyptian-companies\/","url_meta":{"origin":557496,"position":2},"title":"Disruptech fintech fund makes its first investment in two Egyptian companies","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"STARTUP WATCH- Disruptech makes its first investment in two Egyptian companies: Disruptech, a USD 25 mn fintech fund recently set up by Mohamed Okasha, a former top exec at fintech player Fawry, has made its first investment in two Egyptian startups, Khaznaand Brimore, according to Menabytes. The fund is investing\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":572854,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/12\/fatura-raises-usd-1-mn-in-funding-round-led-by-disruptech\/","url_meta":{"origin":557496,"position":3},"title":"Fatura raises USD 1 mn in funding round led by Disruptech","author":"enterpriseam admin","date":"12 July 2020","format":false,"excerpt":"STARTUP WATCH- Egyptian e-payments platform Fatura has raised north of USD 1 mn in its first funding round led by Disruptech and with participation from EFG Hermes and Cairo Angels, the local press reports. Fatura CEO Hossam Ali said the company is well positioned to provide transparent pricing and delivery\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":571447,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/brimore-raises-usd-3-5-mn-in-pre-series-a-investment\/","url_meta":{"origin":557496,"position":4},"title":"Brimore raises USD 3.5 mn in pre-series A investment","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"STARTUP WATCH- Cairo-based social commerce platform Brimore has raised USD 3.5 mn in a pre-series A funding round led by Algebra Ventures, the company announced in a statement to Enterprise (pdf). Flat6Labs, Disruptech, Vision Ventures and 500 Startups also participated in the round. The investment comes a year after the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":571810,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/01\/disruptech-to-invest-usd-5-mn-in-fintech-startups-this-year\/","url_meta":{"origin":557496,"position":5},"title":"Disruptech to invest USD 5 mn in fintech startups this year","author":"enterpriseam admin","date":"1 June 2020","format":false,"excerpt":"STARTUP WATCH- Disruptech plans to invest USD 5 mn in fintech startups this year, founder Mohamed Okasha tells Al Mal. The fintech fund is looking to acquire two unnamed companies before the end of the year, Okasha said. The former Fawry CEO told Al Mal last month that over the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557496","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=557496"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557496\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557497"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557496"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557496"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}