27 October, Alexandria. Kuzlo, a B2B marketplace that connects FMCG small retailers with wholesalers available in their area providing full transparency on product availability and prices, announced that it has raised an undisclosed amount in a pre-seed funding round by Nama Ventures.
FMCG market is changing due to the high competition from the mega stores and chains that are creating high pressure on the traditional supermarkets and groceries. KUZLO provides FMCG players with a better supply network to ensure business success using technology.
Kuzlo was established in March 2021 by 4 co-founders Ayman, Tarek, Bassem & Gebril with the main focus of operations in Alexandria providing its customers with better customer service and gaining their trust in delivery times.
“Digitalization is becoming the main driver for transformation of many industrial sectors and the B2B marketplace in Egypt has just started its journey towards a digital future. Kuzlo is helping small retailers shift into the new future challenges and support them to strengthen their business value using new digital trends of E-commerce and E-finance in the near future”. Said Ayman Elgarem , Co-founder and CEO of Kuzlo
“Part of our investment thesis at Nama is to look for great teams that are disrupting traditional businesses leveraging technology. This had become most evident in the supply chain in the grocery space in MENA. Ayman, Mohammed Gebril, Bassem, and their great advisor Tarek are a true example of a complementary team with deep knowledge in the industry, technology expertise, and operational excellence to take a shot at this space in Alexandria. We have no doubt that this team is on to something special and we are honored and privileged to be this sole pre-seed investor and backer”. Said Mohammed Alzubi, founder and managing partner of Nama Ventures.
Kuzlo: The main strategy is to stay asset -light startup, collaborate with all ecosystem partners to have the most efficient working environment and to listen to all stockholders in the industry.
Nama Ventures: We are the champions of pre-seed in MENA tech startups. . We pride ourselves on being technology founders funding technology startups. We believe our technical knowledge, entrepreneurial journey, and our investment track record are a testament to the value add we bring to pre seed / seed stage technology investing. We look forward to partnering with amazing MENA startups on their next tech entrepreneurial journey. If you are a MENA based startup, with a founding team that has complementary skill sets, then we sure want to talk to you