Get updated by following our social media accounts and supporting our ever-growing Youtube Channel.
Egyptian e-commerce and logistics platform, MaxAB has secured an additional $15 million, closing its Series A round. The B2B e-commerce platform, primarily serving food and grocery retailers, had raised $40 million in its Series A round, which was led by RMBV Impact with other participants including the IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, and Endeavor Catalyst as well as MaxAB’s existing investors, Beco Capital and 4DX Ventures. The $15 million extra investment is also coming from the investors from the first Series A round.
MaxAB has also announced its acquisition of WaystoCap, a Moroccan B2B e-commerce and distribution platform for an undisclosed amount. The acquisition which is in line with MaxAB’s plans to scale across Africa will see the startup operating in Morocco and the Maghreb region, comprising Algeria, Libya, Mauritania, Morocco, and Tunisia. More than 70,000 retailers across both MaxAB and WaystoCap platforms would get to benefit from MaxAB’s technology, expanded end-to-end supply chain solutions and business intelligence tools as well as WaystoCap’s knowledge and expertise.
Niama El Bassunie, Co-founder of WaystoCap, would be taking over the position as the managing director at MaxAB Morocco. She had co-founded WaystoCap with Mehdi Daoui, Anis Abdeddine and Aziz Jaouhari Tissafi in 2015. WaystoCap was the first Moroccan startup to ever get into Y Combinator’s Winter batch, using a business model that was a cross-border trade platform for making transactions for business goods in Africa.

MaxAB CEO Belal El-Megharbel said: “At the end of the day, what we want to do is build a tech-enabled supply chain, in all the African countries, in the Middle Eastern countries, and then connect them together. That’s where the magic happens. This is where we can actually have a real impact by putting the right amount of food at the right place at the right time, and minimizing the waste which MENA cannot afford.”
MaxAB is a B2B e-commerce platform that connects food and grocery retailers to suppliers in the most under-served geographies. Founded in November 2018 by Belal El-Megharbel and Mohamed Ben Halim, MaxAB is re-engineering the informal grocery and food market using empowering technologies and innovative supply chains designed to fit the needs of retailers in the areas the startup serves. Through its technology-enabled supply chain, MaxAB is helping put the correct amount of food at the right place at the right time.
Get updated by following our social media accounts and supporting our ever-growing Youtube Channel.