The Clap E-commerce company Teegara closed an undisclosed figure in a bridge funding round.
Claps Class Bridge financing is temporary financing to cover the firm’s short-term costs until it secures long-term financing.
Who are the investors? The fund round was led by the Angel Investment Network “Alexandria Angels”, with the participation of angel investors from Jordan, Egypt, Saudi Arabia, & the Netherlands. It is worth noting that the same network, “Alexandria Angels Network”, led the company’s pre-seed round.
More on Teegara Teegara is an e-commerce start-up that focuses on household appliances, & reduces the presence of intermediaries, who charge extra fees. The company also provides credit services to its users & various means of payment.
How will the company use the funds? The company will use the financing to implement its expansion plan into new sectors, & hire more talent. The company is also considering expanding outside Egypt by 2024.