{"id":564341,"date":"2021-08-25T13:39:49","date_gmt":"2021-08-25T13:39:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/"},"modified":"2021-08-25T13:39:49","modified_gmt":"2021-08-25T13:39:49","slug":"maxab-acquires-moroccan-startup-waystocap","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/","title":{"rendered":"MaxAB acquires Moroccan startup WaystoCap"},"content":{"rendered":"

<\/a> Cairo-based B2B food and grocery startup <\/strong>MaxAB<\/a><\/strong> has acquired Moroccan <\/strong>ecommerce and logistics platform <\/strong>WaystoCap<\/a><\/strong> for an undisclosed amount, following a fresh USD 15 mn capital injection from its investors, TechCrunch<\/a> reports. The new investment takes the company\u2019s total series A funding to USD 55 mn, enabling it to expand outside of Egypt for the first time.<\/p>\n

Who are the investors?<\/strong> This round of funding was raised from RMBV, International Finance Corporation (IFC), Flourish Ventures<\/a>, Crystal Stream Capital<\/a>, Rise Capital<\/a>, Endeavour Catalyst, Beco Capital and 4DX Ventures. These are the same investors who took part in the company\u2019s funding round<\/a> earlier this year, which at USD 40 mn is one of the largest series A\u2019s in Africa this year. The platform said back then it would use the proceeds to set up a branch in every key city in Egypt, with an eye to setting up shop in other MENA countries.<\/p>\n

WaystoCap is an up-and-coming B2B marketplace + logistics firm: <\/strong>Founded in 2014 and backed by Y Combinator, WaystoCap operates an online B2B marketplace and provides customs and logistics services to businesses trading in Africa. The company has a physical presence in four African countries, as well as the US, the UK and Spain. The company last raised venture capital in 2017, when it landed a USD 3 mn in a seed round<\/a> from investors including YC.<\/p>\n

MaxAB\u2019s acquisition will see over 70k retailers \u201cbenefit from its technology<\/strong>, expanded end-to-end supply chain solutions and business intelligence tools as well as WaystoCap\u2019s knowledge and expertise,\u201d the company said. The Egyptian company\u2019s expansion plans coincided with WaystoCap's ambitions to grow its business locally, so both companies agreed to work together through the acquisition, MaxAB co-founder and CEO Belal El Megharbel told TechCrunch.<\/p>\n

MaxAB: A refresher.<\/strong> The retail-tech startup, founded by Belal El Megharbel and Mohamed Ben Halim in 2018, connects informal food and grocery retailers with suppliers through an Android app. It provides retailers in underserved areas access to a variety of products, the ability to order stock online, a rapid delivery service, and access to credit. Brands using the platform have access to various tools including real-time demand monitoring, helping them make informed decisions about their purchasing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cairo-based B2B food and grocery startup MaxAB has acquired Moroccan ecommerce and logistics platform WaystoCap for an undisclosed amount, following a fresh USD 15 mn capital injection from its investors, TechCrunch reports. The new investment takes the company\u2019s total series A funding to USD 55 mn, enabling it to expand outside of Egypt for the […]<\/p>\n","protected":false},"author":1,"featured_media":564342,"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":[10043],"tags":[199,633,2182,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-startup-watch","tag-e-commerce","tag-enterprisepm","tag-maxab","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"40d6ef01-4a88-49fd-af20-7f8279df1629","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/523.jpg","photo_position":"above","related_issue":[564337],"teaser":"","voice_url":""},"yoast_head":"\nMaxAB acquires Moroccan startup WaystoCap - 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\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MaxAB acquires Moroccan startup WaystoCap\" \/>\n<meta property=\"og:description\" content=\"Cairo-based B2B food and grocery startup MaxAB has acquired Moroccan ecommerce and logistics platform WaystoCap for an undisclosed amount, following a fresh USD 15 mn capital injection from its investors, TechCrunch reports. The new investment takes the company\u2019s total series A funding to USD 55 mn, enabling it to expand outside of Egypt for the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-25T13:39:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/523.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\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"MaxAB acquires Moroccan startup WaystoCap\",\"datePublished\":\"2021-08-25T13:39:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/\"},\"wordCount\":373,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/523.jpg?fit=%2C&ssl=1\",\"keywords\":[\"e-commerce\",\"EnterprisePM\",\"MaxAB\",\"Startup watch\",\"startups\"],\"articleSection\":[\"SPEED ROUND: STARTUP WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/maxab-acquires-moroccan-startup-waystocap\/\",\"name\":\"MaxAB acquires Moroccan startup WaystoCap - 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The round was led by Africa-focused VC firm 4DX Ventures and also included participation from Raed Ventures, Beco Capital, Breyer Capital and private investors, including Careem co-founder Magnus Olsson.Taager has now raised more\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\/7\/228.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575289,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/payroll-management-startup-nowpay-raises-usd-2-1-mn-in-seed-funding\/","url_meta":{"origin":564341,"position":4},"title":"Payroll management startup NowPay raises USD 2.1 mn in seed funding","author":"enterpriseam admin","date":"11 October 2020","format":false,"excerpt":"STARTUP WATCH- Payroll management startup NowPay has raised USD 2.1 mn in seed funding from a group of Egyptian, US, UAE and Chinese investors led by Foundation Ventures and Endure Capital, according to a company statement (pdf). 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