Tawfeer Market has closed out a seed round of US$500,000 with investors from the Alexandria Business Angels Network. The round was facilitated in order to increase growth and expansion beyond Alexandria, Egypt.

Tawfeer Market had also participated in the recent AUC VLab acceleration program. The startup is an e-commerce platform where users can find and purchase groceries via the app, which is then delivered through its fulfillment arm.

According to Ahmad Fasseeh, co-founder and CEO of the startup, the app has been downloaded over 100,000 times and have received tens of thousands of orders at a steady two-digit rate month-to-month.

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Speaking about the grocery market in Egypt, Ahmad explained: “Online grocery shopping in Egypt is expected to grow exponentially, giving room to many players to fulfill various needs. There are three main criteria that retail grocery consumers lookout for: convenience, variety and price.

At Tawfeer Market, we try to offer the right formula that meets consumer needs in the majority of their orders. We also offer the most commonly ordered 4,000 SKUs, which includes both frozen and fresh food, at the lowest price within 60 minutes.”

The startup launched operations in October 2019 with a mobile application where consumers can order groceries online and receive the products within the same day, usually within 2-3 hours. Products are sent in branded bags from Tawfeer warehouses in Tawfeer by Tawfeer delivery team.