Gahez Market, the Egypt based fashion B2B marketplace has raised USD 2M in the pre-seed funding round led by Disruptech Ventures with the participation of Egypt Ventures, Tanmeyah (an EFG Hermes company), Afropreneur fund, and other strategic angel investors.
Gahez operates as an online marketplace that sets to transform the wholesale distribution platform by streamlining the process between retailers and manufacturers to provide an improved online trading cycle. Through providing a data-driven approach, Gahez has successfully unburdened fashion retailers from the current inefficacy and obstacles and has facilitated their selection of products and sourcing options. In addition, Gahez provides on-credit facilities to the retailers easing the collection process while handling their cash settlement with suppliers via third party.
Manufacturers and brands now have direct access to thousands of traders enabling them to enhance their margins and attract new type of buyers without having to deal with the logistical aspect of their business cycle. Gahez’s platform supports manufacturers and brands by providing powerful sales, marketing, and analytics tools to simplify their operations, thus focusing on making the right products and growing their business.
Gahez Market was founded in 2021 as the first digital platform to digitize the B2B fashion supply chain in the region. In such a short period of time, Gahez has been able to expand its footprint to 16 governorates across the country, on-boarding over 15,000 retailers, 142 manufacturers and over 4,000 SKUs (Gahez’s SKU is a wholesale set of sizes & colors) onto their platform with a focus on brick-and-mortar stores, online sellers and street vendors.
Gahez is tapping into the huge underserved market of street resellers, supplying them with smaller ticket-size transactions to empower their trading ability, providing them with better margins and variety.
Furthermore, due to strong demand from neighboring African countries, Gahez will be accelerating its growth and geographical expansion within the region by catering to different markets.
Wael Olama, an industry veteran and Gahez’s founder and CEO commented on their expansion and growth saying, “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. The market size of apparel in Egypt amounts to USD 24Bn rendering the market potential infinite. Alongside, Egypt’s exports around USD 2Bn worth of apparel mostly to the US and EU Markets, there’s a huge potential for growth in the African markets, and this can happen rapidly only through the digital world.”
Mohamed Okasha, Disruptech Managing Partner commented, “We are excited to support Gahez’s business expansion plan through our board seat and strategic input. The team is paving the way to digitizing the region’s fashion wholesale market. With this investment, I am certain that they will be able to fulfill their targeted milestones.”
With the new investment, Gahez Market should be able to assert its footprint within the Egyptian marketplace while confidently start expanding into new territories. These goals will be achieved through creating top notch technology tools and hiring top talent that will enable Gahez to cater to all the targeted customer segments and future expansions.
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