Egypt's Brimore Raises $800K in Seed Funding Round

ArabNet Team
Apr 02 2019
Egypt's Brimore Raises $800K in Seed Funding Round
Share this article

Brimore, the direct-selling distribution platform that connects manufacturers with consumers, announced that it has raised $800K in a seed funding round co-led by Algebra Ventures and Endure Capital, with participation from 500 Startups, Flat6labs, and angel investors.

Brimore is a technology-powered retail distribution platform that allows manufacturers direct access to local communities who can both promote and consume their products. The platform creates significant efficiencies for local manufacturers by dramatically optimizing their branding and distribution costs, providing them with better demand visibility, and allowing them to improve utilization.

Directly selling into local communities, Brimore creates an entirely new marketing and distribution channel that is built on data analytics and the power of social networks. Brimore’s channel extends well into the depths of rural areas in Egypt where it is uniquely capable of moving a high volume of products seamlessly and efficiently.

Brimore was founded in 2017 by Mohamed Abdulaziz, Ahmed Sheikha, and Mahmoud Refaay, a team with extensive domain experience in FMCGs, direct selling, and distribution management in multinationals including P&G and Oriflame.

“Many local manufacturers and products have suffered and died because of inefficient and expensive distribution networks that are better suited to big multinationals,” said Abdulaziz, CEO & co-founder. “We’re leveraging the power of people and their social networks to solve the problem of market access for SMEs in Egypt and disrupt the traditional distribution model. We’ve merged sales, marketing, and distribution in one transaction.”

Ahmed Sheikha, CBO & co-founder, added, “92% of our distributors are women who want high-value jobs and the option to work from home. We’re on a mission to support our distributors through economic empowerment and continuous training opportunities. We started in Egypt but we’re aiming to grow in other emerging markets, particularly in Africa.”

The business has excited various investors. “We're very impressed with the Brimore team and their approach to solving an expensive and complex problem,” commented Tarek Assaad, Algebra Ventures’ Managing Partner. “We believe the company will change how small and medium manufacturers think about selling goods to the large base of Egyptian consumers.”

“At a time when all major FMCGs are ‘buy one, get one free’ companies, distribution simply wins,” added Tarek Fahim, Endure Capital’s Managing Partner. “We are proud to support Brimore in their endeavors to enable resellers and hopefully change their lives for the better.”

Brimore was part of the Flat6labs accelerator in December and is the 1st startup to secure an investment before demo day. “Flat6Labs Cairo has been one of the 1st believers in Brimore,” noted Ramez El Serafy, CEO of Flat6Labs. “We are excited to continue our strategic partnership with the team and to be supporting them further through this round of follow-on investment.”