Gahez raises 2 million dollars in pre-seed funding

Egyptian e-commerce startup and B2B fashion marketplace Gahez has raised 2 million dollars in its pre-seed funding round. The round was led by Disruptech Ventures, with participation of Egypt Ventures, Afropreneur Fund, and Tanmeyah. Additionally, a few angel investors participated too.

Gahez launched at the end of 2021 as the world was coming out of the COVID-19 pandemic with the increased number of vaccinated people, but was also battling the Omicron variant. Gahez wants to use its latest funding round to hire more talent and market to new consumer segments.

Gahez’s goal is to simplify the process between retailers and manufacturers and boost the digital trading cycle. Gahez also offers merchants on-credit facilities to make the collection process easier, while tapping third-party aggregators to handle transactions with suppliers.

“We are on a mission to revolutionize the way retailers shop for their stores by relieving the stress of managing and sourcing. We believe that the Egyptian/African apparel market is untapped and widely fragmented, which provides Gahez with the perfect opportunity (relying on technology) to scale and position itself within the sphere,” Gahez co-founder and CEO Wael Olama said to wamda.com.

“The market size of apparel in Egypt amounts to $24 billion, rendering the market potential infinite. Alongside Egypt’s exports around $2 billion worth of apparel mostly to the U.S. and EU markets, there’s a huge potential for growth in the African markets, and this can happen rapidly only through the digital world,” Olama added.

Gahez currently works with over 15,000 merchants and 142 manufacturers. The company has also added 4000 SKUs.