Kenzz, an Egyptian e-commerce platform for the mass market, grabs $3.5M seed funding

U.S.-based and MENA-focused venture capital firm Outliers Venture Capital led the round. The company, founded in February, said it will use the seed round to grow its product categories, widen the product categories on its platform, hire talent and invest in tech as it launches its app. About 40% of Egyptians purchase consumer goods online weekly, according to data. Online shoppers in Egypt mainly purchase items on big e-commerce platforms such as Souq, Jumia; and Noon or social commerce platforms that utilize Facebook pages and groups in a B2B2C manner. Kenzz’s model is akin to players like Taager because it’s social, but it is taking a. B2C approach as it removes. . . .