The Clap Capiter, a Cairo-based B2B e-commerce startup that brings together manufacturers, brands, wholesalers, and retailers on one platform, announced it has raised $33 million in Series A.
Who is affected🤷 Over 50,000 retailers to date have used Capiter to order inventory for their shops, restaurants, cafes, hotels, and even catering services.
Capiter features more than 6,000 stock-keeping units (SKU) from 1,000 different sellers. The startup enables retailers to access working capital through its app by partnering with local banks.
Capiter also helps manufacturers gain insights into relevant markets through its machine learning model, enabling them to access real data to refine their distribution strategies.
Why is this important🤔 Many of the manufacturers in Egypt today do not have the proper infrastructure of the supply chain in place to reach merchants. Capiter CEO Mahmoud Nouh says that manufacturers are only able to reach 30% of merchants.
With Capiter, manufacturers are able to reach between 80% to 100%. With the latest funds, Capiter is now eyeing expansion across all of Egypt and some other markets of the MENA region.