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The funding will be utilised to accelerate the growth of the African tech startup, increase the number of available products on the marketplace, and capture market share within Egypt’s fashion and lifestyle industry.
Seven-figure series A is invested into digital marketplace, Brantu
Mohamed Rizk and Fredrik Granström launched Brantu with the aim of becoming Egypt’s top eCommerce player that serves the needs of Egypt’s consumers.
In an official press release, Mohamed Rizk, CEO, and co-founder of Brantu, explains that the digital fashion marketplace offers local and international designers and brands the opportunity to extend their customer range.
“We are changing the Egyptian consumer habit of buying fashion online. Before Brantu fashion consumers bought through international/cross-border websites, facing the issues of long delivery times & customs or local general merchandise platforms whose assortment & appeal do not cater to fashion consumers. We are providing speedy delivery, trendy products & appealing content to Egypt’s mass population, serving millions of fashion shoppers.”
A marketplace for local and international designers
Brantu’s goal is to provide a positive experience for Egyptian fashion consumers by creating a platform that offers fast delivery, free returns, and quality content.
Launching with a mere three brands and limited funding in 2019, Brantu has grown to obtain over 20 000 users within the first year of operating. The platform debuted as a mobile-first platform with an assortment exclusively for women.
Brantu offers convenient fashion sales and helps fashion brands, on the platform, with the onboarding process which is the integration of a new employee into the marketplace.
Wael Amin, partner of Sawari Ventures, explains the example Brantu is setting for other digital markets and the adjustments made due to Covid-19.
“Brantu is easily the best example of the tremendous acceleration in digital adoption that we have witnessed across all sectors during the pandemic. We have full faith in Brantu’s management team’s ability to take the company to market leadership.”
Impact of Covid-19 on digital marketplaces
Covid-19 accelerated online fashion as consumers shifted to the digital market to combat the spread of the virus. F
Fashion houses transitioned their offline presence to the online marketplace to maintain customers and revenue.
Brantu describes themselves as a “fashion pure player” and wants their platform to serve Egyptian customers as the best eCommerce player in the region.
Featured Image: Mohamed Rizk and Fredrik Granström, co-founders of Brantu, [supplied]