According to Martechvibe on Thursday, the UAE-based logistics technology company X-ERA has finished acquiring the Egyptian business-to-business (B2B) eCommerce platform SPEED.
The Emirati logistics company will now redesign the SPEED platform for its clients, who are primarily small and medium-sized food stores, in order to improve the user experience. According to the study, X-ERA intends to advance the technology and broaden the platform.
According to X-ERA CEO Mahmoud El-Enani, “with the re-launch, the SPEED app will acquire a new branding and identity, boosting its USP for the small and medium-sized grocery shop owners it serves.”
According to Martechvibe on Thursday, the UAE-based logistics technology company X-ERA has finished acquiring the Egyptian business-to-business (B2B) eCommerce platform SPEED.
The Emirati logistics company will now redesign the SPEED platform for its clients, who are primarily small and medium-sized food stores, in order to improve the user experience. According to the study, X-ERA intends to advance the technology and broaden the platform.
According to X-ERA CEO Mahmoud El-Enani, “through the re-launch, the SPEED app would get a new branding and identity, enhancing its USP for the small and medium-sized grocery store owners it serves.”
A $40 million pre-series B funding round was recently closed by MaxAB, another Egyptian B2B eCommerce marketplace for small grocery retailers, in order to support its growth across the Middle East, North Africa, and Pakistan (MENAP) region.
Belal El-Megharbel, the CEO and co-founder of MaxAB, commented on the rise by saying: “Within just four years of operations, we have been able to re-engineer the informal food and grocery market in Egypt and Morocco.
“We are eager to enter the next stage of the MaxAB journey, which involves further consolidation of the informal grocery sector, heavy focus on and investments in FinTech, and replicating our success in new markets to grow beyond borders,” he continued.
MaxAB stated in a press release that it intends to broaden its coverage in Morocco and branch into Saudi Arabia by the end of 2023. MaxAB is already present in the major cities of Egypt and Casablanca in Morocco.
