Alexandria-based online grocery retail startup Tawfeer Market has raised $500K in its seed round led by Alexandria Business Angels Network.
More Details🧐 In a little over a year since launching in 2020, Tawfeer Market has been downloaded on more than 100K devices. The company has “tens of thousands of orders growing at a steady two-digit month-over-month growth.”
Tawfeer Market tries to offer the lowest prices by benchmarking its prices to match aggressive retailers like Carrefour, hence the “Tawfeer” part of the company’s name.
Why is this Important🤔 Tawfeer Market co-founder & CEO Ahmed Fasseeh said the Egyptian grocery retail market is valued at over $50 billion, but the Egyptian online grocery retail market share is way below global averages.