Social e-commerce platform Brimore has raised $25 million in a Series A round led by the International Finance Corporation (IFC) & Endure Capital. Several new & existing investors also participated in the round, including Fawry & Endeavor Catalyst Fund (new) & Algebra Ventures & Disruptech (existing)
More on Brimore🛒 Brimore is a social e-commerce platform that allows small businesses direct access to local communities that can promote &/or consume their products.
Social e-commerce is online shopping that’s inspired by what others purchase or recommend, such as customer ratings & reviews, for example.
More Details🧐 Brimore came to existence after its founders saw how emerging brands struggled to get their products to the market with so many established brands out there.
Brimore has grown its network to over 75k resellers, with 74% of them being women.
Why is this Important🤔 The social e-commerce market in Egypt is expected to be worth over $14 billion by 2024.
Brimore plans to use the funds to grow its product offerings & network suppliers as well as accelerate its expansion across Africa.