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ArabFinance: Capiter, an Egypt-based B2B marketplace, is planning to raise new investments worth $75 million within the coming few months, Co-Founder Mahmoud Noah told Al Borsa News.
This step comes after the platform has closed a funding round of $33 million, Noah added.
The startup’s business volume is nearing $500 million, he said, expecting the company to grow by 3x in 2022.
Moreover, he noted that the company aims at achieving this growth through expansion and offering new products.
Capiter offers 18,000 products over its platform, targeting raising this number to around 200,000 before the end of this year, Noah pointed out.
He also highlighted that the company’s shareholding structure includes the US’ Capital Quona, the largest investors in Capiter, China’s MSA Capital, Shorooq Partners, Foundation Ventures, Accion Venture Lab, Derayah Ventures, along with Savola Foods.
It is worth noting that Capiter recently signed a financing program agreement with Contact Factoring, a subsidiary of Contact Financial Holding (CNFN), under which Capiter would secure EGP 100 million in seed funding to support its expansion plans.
Established in July 2020, Capiter has a presence in three countries, namely Egypt, the UAE, and India, with its head office located in Cairo.
